subject
Business, 24.04.2020 03:44 petriajack8375

Which of the following statements is false?

A. A contingent liability is a potential obligation that depends on the future outcome of past events.
B. A contingent liability should be disclosed in the notes to the financial statements if there is a reasonable possibility that a loss (or expense) will occur.
C. All contingent liabilities should be reported as liabilities on the financial statements, even those that are unlikely to occur.
D. A contingent liability should be accrued if the loss is probable and the amount of the loss can be reasonably estimated.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 20:30
Northington, inc. is preparing the company's statement of cash flows for the fiscal year just ended. using the following information, determine the amount of cash flows from operating activities using the indirect method: net income$182,000gain on the sale of equipment12,300proceeds from the sale of equipment92,300depreciation expense—equipment50,000payment of bonds at maturity100,000purchase of land200,000issuance of common stock300,000increase in merchandise inventory35,400decrease in accounts receivable28,800increase in accounts payable23,700payment of cash dividends32,000 $189,400.$332,200.$236,800.$261,400.$186,800.
Answers: 2
question
Business, 22.06.2019 01:40
Costs of production that do not change when output changes.question 17 options: total revenuefixed incometotal costfixed cost
Answers: 1
question
Business, 22.06.2019 02:30
Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do
Answers: 2
question
Business, 22.06.2019 03:30
Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is
Answers: 3
You know the right answer?
Which of the following statements is false?

A. A contingent liability is a potential ob...
Questions
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
History, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Biology, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Geography, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
question
Mathematics, 10.09.2020 15:01
Questions on the website: 13722361