You must consider both consequences, the positive and the negative. Then you must think of a way that you will have a win-win situation or just do the compromising to be able to solve the problem and have a faster solving process.
1. (a) Record a liability
2. (a) Record a liability
3. (b) Disclose in notes
<h3>What happens if you fail to record a liability?</h3>
Frequently, failing to register a responsibility entails also neglecting to record an expense. Income is decreased by expenses; but, in this case, this wasn't documented so that net income wouldn't be impacted when it should have been. The net income will be overstated as a result.
<h3>On a balance sheet, how do you record liabilities?</h3>
Unearned income or a "payables" account is normally where liabilities are recorded. In most cases, unless they are regarded as contra liabilities, they have a credit balance. As a result of discounting or lowering the amount owed, this kind of liability has a negative balance.
To know more about record a liability visit:
brainly.com/question/14266222
#SPJ4
Answer:
C. Firms and workers will negotiate higher nominal wages to restore lost purchasing power. This shifts the SRAS curve to the left until the gap is eliminated at D.
Answer:
Following are the response to the given question:
Explanation:
Cost of Goods Sold
Absorption costing 
Variable costing 
Okay, I’ll try to figure this one out for you
give me some time
Thxs
