Answer:
The correct answer is (A) True.
Explanation:
Northwestern Mutual Investment Services, LLC products and services are only offered and sold by duly certified and designated entities and financial representatives. Financial representatives may not represent all the entities we show or all the services mentioned on this website. Not all products and services are available in all states.
Answer:
1. Huprey can resonably estimate that a pending lawsuit will result in damages of $1,280,000, it is probable that Huprey will lose the case.
2. It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable.
3. Huprey is being sued for damages of $2,400,000. It is very unlikely (remote) that Huprey will lose the case.
Explanation:
Contingent liabilities must be recorded only when it is probable that the liability will happen and you can estimate the associated costs.
When contingent liabilities are only reasonably possible or you cannot estimate the amount, they must be included in the footnotes of the financial statements.
When contingent liabilities are not reasonably possible, nothing needs to be disclosed.
Answer:
The range of possible transfer is $ 3.25 to $ 3.50
Explanation:
Data provided:
The purchasing cost of the transistor = $ 3.50
The total number of transistors needed = 8,000
The production cost of the transistor = $ 4.00
The included variable cost = $ 3.25
The included fixed cost = $ 0.75
Now,
the fixed cost cannot be altered, thus it will be there
hence,
the variable cost will be the factor that will evaluate the decision i.e $ 3.25
therefore, the <u>range of possible transfer is $ 3.25 to $ 3.50</u>
Answer:
The answer is:
- 2022 most accurate inventory
- 2021 least accurate inventory
Explanation:
Garret Market uses a periodic inventory system (updates are made on a periodic basis) and in order to carry out this process correctly, the inventory should remain closed. Only in 2022 was the inventory closed, so it should be the most accurate. In 2021 the store remained fully opened and inventory was modified daily, so it should be the least accurate.