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SVETLANKA909090 [29]
1 year ago
5

A contingent liability: multiple choice is only remotely possible. cannot be estimated. will result from a future event. is a po

tential liability that has arisen because of a past event or transaction. will only result when a remote event becomes probable. is remotely estimable and probable
Business
1 answer:
garik1379 [7]1 year ago
4 0

Answer:

is a potential liability that has arisen because of a past event or transaction.

Explanation:

A contingent liability is a potential liability that has arisen because of a past event or transaction.

Some of the characteristics of contingent liabilities includes being remote, probable, estimable, and reasonably possible.

In order to record a contingent liability as a liability on a company's balance sheet, it must be probable (likely to occur) and subject to estimate.

Hence, companies are advised to record the contingent liabilities so as to meet the Generally Accepted Accounting Principles (GAAP) and IFRS requirements.

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If you were visiting disney world and you used its touch-screen monitors to locate a restaurant, what type of hardware device wo
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Lewis is a project team member taking part in team building exercises with the project manager and other team members. Lewis is
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2 years ago
Faux Trees Company produces artificial Christmas trees. A local shopping mall recently made a special order offer; the shopping
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Answer: $‭16,925.9‬0 increase

Explanation:

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= ((51.61 + 3.80 + 1.00 + 8.26 for white tree) * 230 trees) + 5,000 for molds

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<em></em>

<em>Note: Options might be for a variant of this question. </em>

7 0
2 years ago
After Hayworth Publishers realized that it was incurring losses, it set new objectives. These objectives were to increase revenu
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Answer:

PLANNING

Explanation:

Planning is the management function and process of thinking about the activities required to achieve a desired goal.

It is the first and foremost activity to achieve desired organizational results.

It involves the creation and maintenance of a plan, such that if the plan is followed, organizations can achieve their goals

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