1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Amiraneli [1.4K]
1 year ago
9

A contingent liability which should be disclosed on the balance sheet but does not require footnote disclosure. (true/false)

Business
1 answer:
expeople1 [14]1 year ago
4 0

A responsibility or possible loss that could materialize in the future based on how a particular occurrence plays out is known as a contingent liability.

<h3>What is contingent liability?</h3>

A responsibility or possible loss that could materialize in the future based on how a particular occurrence plays out is known as a contingent liability. Contingent liability can take the form of pending investigations, product warranties, and potential lawsuits. Liabilities that may be incurred by a company dependent on the result of an uncertain future event, such as the result of an ongoing lawsuit, are known as contingent liabilities.

When they are both probable and reasonably estimable as a "contingency" or "worst case" financial consequence, these obligations are not recorded in a company's records and are not displayed on the balance sheet. The kind and size of the contingent liabilities may be described in a footnote to the balance sheet. It is feasible to categories a loss's possibility as remote, improbable, or probable.

To learn more about contingent liability refer to:

brainly.com/question/17371330

#SPJ4

You might be interested in
Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory
Reil [10]
The answer to this is 462
8 0
3 years ago
Tyson Foods is the largest U.S. beef and chicken​ supplier, processing more than​ 100,000 head of cattle and​ 40-plus million ch
Deffense [45]

Answer:

$810,000

Explanation:

The computation is shown below:

The increase in fixed cost is

= Salary of each sales representative × number of sales representatives hired

=  $45,000 × 18

= $810,000

Now the increase in sales needed for break even is

= Increase in fixed cost ÷ Contribution margin ratio

= $810,000 ÷ 30%

= $2,700,000

As we know that break even sales is computed by dividing the fixed cost by the contribution margin ratio and we applied the same

5 0
3 years ago
Nirav just opened a savings account paying 2 percent interest, compounded annually. After four years, the savings account will b
nlexa [21]

Nirav recently opened a savings account offering 2% annual compound interest, this means that Nirav will earn the same amount of interest each year for four years.

<h3>What is a saving account?</h3>

An account at a retail bank is formally called as a savings account. This is a type of account that person granted a person that his money is safe in a particular bank. Refer to the image below for the complete question.

The given case tells about that <u>what would be the impact</u> of savings account offering 2% annual compound interest on Nirav, then he will earn the same amount of interest compounded each year for four years.

Learn more about the interest, refer to:

brainly.com/question/1040694

#SPJ1

3 0
1 year ago
Is it recommended to skip performing the risk identification on a project? Why not? What is likely to
svetoff [14.1K]

It is not recommended to skip performing the risk identification on a project. If this process is skipped, the organization might run into unforeseen dangers that will stall their projects and prevent them from reaching their objectives.

<h3>What is the risk identification step?</h3>

The risk identification process is designed to study and find out the elements that will prevent an organization from reaching its set objectives.

he risk identification process helps the organization to know the risk that is set before them and prepare to bypass or overcome the challenges. The risk identification step is the first step that must be taken to avoid problems along the way.

Learn more about the risk identification step here:

brainly.com/question/28214983

#SPJ1

6 0
1 year ago
Jeff and Rob have a difficult time getting along at work. Most days, Jeff spends a lot of time cracking jokes and goofing off, w
Over [174]

Answer:

D.

Explanation:

In this scenario when Rob stops nagging Jeff he is implementing the behavior modification known as avoidance learning. This technique theorizes that and individual tends to remove themselves from a scenario in order to avoid certain bad or stress inducing situation. Which Rob does in order to avoid having to deal with Jeff being cracking jokes and goofing off later.

8 0
3 years ago
Read 2 more answers
Other questions:
  • your experience indicates that offering a discount in your email increases responses by 75% year last email without a discount y
    10·1 answer
  • Golda Rush quit her job as a buyer for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,
    11·1 answer
  • Mike gundy is a college football coach making a base salary of $2,400,000 a year ($200,000 per month). employers are required to
    10·1 answer
  • Even though federal law mandates that workers and firms each pay half of the total fica tax, the tax burden may not fall equally
    12·1 answer
  • Firms in a monopolistically competitive industry produce: a) homogeneous goods and services. b) differentiated products. c) mono
    9·2 answers
  • The two categories of cost comprising conversion costs are
    6·1 answer
  • Help asap
    6·2 answers
  • At the beginning of 2020, Beerbo acquired a mine for $970,000. Of this amount, $100,000 was ascribed to the land value (the rema
    8·1 answer
  • ______ activities add value directly by transforming inputs into outputs as the firm moves a product or service horizontally alo
    11·1 answer
  • Imagine an influential new study shows that eating eggs drastically reduces the risk
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!