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
stira [4]
1 year ago
10

For the following transaction, determine whether cash flows from operating activities will increase, decrease, or remain the sam

e:
(g) Disclosed a contingent liability based on a pending lawsuit.
Business
1 answer:
IRINA_888 [86]1 year ago
6 0

Disclosed a contingent liability based on a pending lawsuit the cash flows from operating activities will remain the same.

Disclosed a contingent liability based on a pending lawsuit the cash flows from operating activities will remain the same as contingent liability is recorded as footnotes to financial statements. They have no cash flow till the period the event occurs of which they are contingent.

Operational enterprise activities include inventory transactions, interest payments, tax payments, wages to personnel, and payments for rent. some other shapes of cash flow, which include investments, money owed, and dividends are not included in this phase.

A contingent liability is a liability that may or might not occur. This means the contingent legal responsibility will rely on destiny events. Long-time liabilities are predicted to pay through the years or the timeframe is extra than 12 months. However, short-term liabilities are predicted to pay within a year.

Learn more about cash flows here brainly.com/question/735261

#SPJ4

You might be interested in
An accountant is engaged to perform compilation services for a new client in an industry with which the accountant has no previo
irga5000 [103]

Answer:

The options are given below:

A. By obtaining the most recent letter of credit from the entity's primary financial institution.

B. By consulting the AICPA guides, industry publications, or individuals knowledgeable about the industry.

C. By researching the entity's internet site and searching for current press releases.

D. By reviewing the predecessor accountant's work papers without the knowledge of the entity.

The correct option is B.

Explanation:

The AICPA (American Institute of Certified Public Accountants) refers to the association which develops and scores the Uniform Certified Public Accountants examination. The main purpose of the AICPA is financial accounting, therefore, the association will possess information about an industry in its guides.

The accountant can consult industry publications, as this is bound to possess information regarding the industry. Also, the accountant can consult individuals knowledgeable about the industry.

7 0
3 years ago
The excessive use of simple sentences is preferable in academic writing?​
svetoff [14.1K]
I don’t know the question
6 0
2 years ago
Monkey See. Monkey Take and<br> Humans vs Chimps
DedPeter [7]

Answer:

Monkey do

Explanation:

3 0
2 years ago
Read 2 more answers
If John made $23,562.55 in wages, and $2,679.32 cents in tips, what amount should he enter for his income when filling out his 1
Harrizon [31]

Answer:

Explanation:

$26,241.67

8 0
2 years ago
Read 2 more answers
What is the positive impact of Commerce subject on our society?​
kkurt [141]

Answer:

E-commerce facilitates the fundamental movement of goods from suppliers to customers. They offer an ideal commerce development to do digital business and improve the global presence. E-commerce has altered the workflow of the business

5 0
2 years ago
Other questions:
  • When you're evaluating the risk of starting a new business, which risk is likely to be worth it? Question 17 options: Losing you
    13·1 answer
  • __________ is an example of a public source of information consulted during an external search as part of the purchase decision
    6·2 answers
  • By the end of this year
    13·1 answer
  • The Discount on Bonds Payable account is: A. A liability. B. A contra liability. C. A contra expense. D. An expense. E. A contra
    12·1 answer
  • Argo is the world's leading brand of small vehicles that are designed to be driven on all types of terrain and in all types of w
    12·1 answer
  • Which statement does not describe a difference between government and household budgets? In the short term, economists would exp
    14·1 answer
  • Sun Corporation received a charter that authorized the issuance of 86,000 shares of $6 par common stock and 19,000 shares of $75
    9·1 answer
  • What was the main economic product of the southern colonies?
    8·1 answer
  • A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds is called a(n):
    11·1 answer
  • creative textiles inc. manufactures cloth and buys the chemical dyes for its use from california chemicals inc. california chemi
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!