Business, 16.11.2019 05:31 heysorryguys

Burger barn has been named as a plaintiff in a $5 million lawsuit filed by a customer over the addictive nature of the company's french fries. burger barn's attorneys have advised them that the likelihood of a future obligation from the suit is remote. as a result of the lawsuit, burger barn should:
a. ignore the lawsuit in its financial statements
b. disclose the lawsuit in the notes to the financial statements
c. recognize a $5 million liability on its balance sheet for the contingency
d. settle with the customer immediately for $5 million to avoid harmful publicity.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 11:00

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

Answers: 3

Answer

Business, 22.06.2019 12:00

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?

Answers: 3

Answer

Business, 22.06.2019 12:30

Amap from a trade development commission or chamber of commerce can be more useful than google maps for identifying

Answers: 1

Answer

Business, 22.06.2019 15:10

Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a.wimpy’s production and productivity are greater than popeye’s. b.popeye’s production is greater than wimpy’s, but his productivity is less. c.wimpy’s production is greater than popeye’s, but his productivity is less. d.popeye’s production and productivity are greater than wimpy’s.

Answers: 3

Answer

You know the right answer?

Burger barn has been named as a plaintiff in a $5 million lawsuit filed by a customer over the addic...

Questions