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Zanzabum
3 years ago
6

Gore Inc. recorded a liability in 2021 for probable litigation losses of $2 million. Ultimately, $5 million in legitimate warran

ty claims were filed by Gore's customers. Multiple Choice Gore has made a change in accounting principle, requiring retrospective adjustment. Gore needs to correct an accounting error. Gore is required to adjust a change in accounting estimate prospectively. Gore is not required to make any accounting adjustments.
Business
1 answer:
KengaRu [80]3 years ago
4 0

Answer:

Gore is not required to make any accounting adjustments

Explanation:

Gore won't be required to make any accounting adjustments because the litigation loss is already $2,000,000 leading to him recording a liability in his account in which

$5 million in legitimate warranty claims were as well filed by his customers which is why he won't be making any further Accounting adjustment in 2021.

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What are the cons of a mixed market economy for most citizens?
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Answer:

It can be very difficult for citizens to start private businesses. Citizens must pay for most basic necessities by themselves. There is no guarantee of steady employment for many citizens. Citizens may pay higher taxes than in other economic systems.

Explanation:

hope i helped

4 0
3 years ago
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How can gdp per capita and poverty rates indicate standards of living in each system?​​
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6 0
3 years ago
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Leona [35]

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Mixed economics place some limits for safety and society.

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4 0
4 years ago
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The point where marginal cost curve crosses the ____________ and ___________ curve is where the profit maximizing quantity deman
Hoochie [10]

Answer:

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5 0
3 years ago
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lubasha [3.4K]

Answer:

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3 0
3 years ago
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