Answer:Yes it should be reported.
$2.8 million should be reported in the the balance sheet as a liability.
Explanation: Contingent liabilities are liabilities that depend on the outcome of an event that may likely not occur.
Before they can be reported in financial statement, it must be able to estimate the value of such contingent liability and the liability must have a higher than 50% possiblity of being achieved.
If the value can be estimated, then the liability has a higher chance of being realised.
Qualifying contingent liabilities such as the $2.8 million estimated by Top Sound International should be recorded in the income statement as an expense and a liability on the balance sheet.
Therefore the $2.8 million liability should be reported in its 2018 balance sheet
Answer:
2990.46$
Explanation:
The explanation is shown in the picture attached
Screening. This is the process of gathering a focus group, distributing the product and gathering the opinions of the group before selling the product
Answer: The correct answer is <u>".B. There is no beginning inventory.".</u>
Explanation:
The weighted average method produces the same cost of manufactured goods as the FIFO method (First in First out) when there is no beginning inventory because there are no units at the beginning that drag the cost.
Answer:
True
Explanation:
Care means meeting the needs of ourselves and others. Ethics of care involves practising virtues as it maintain relationship and promote the well-being of those who give and receive care in social relations. It is hinged on the theory of what makes an action right or wrong.
Ideally, ethics of care is inspired to take care of the less privilege, the dependants and vulnerable. It place relevance on relationships, responsibility, concern over traditional rule. Ethics of care recognize that human relationships are not similar or do not perfectly match up hence incorporate this fact into the view and claiming that moral duty is partially determined by how vulnerable a person is in a relationship.
While ethics of care seems to place emphasis on social well being of vulnerable, yet it has being a foremost part of ethical issues among professionals such as medical practitioners.