Answer:
is made if it is more likely than not that the liability has been incurred.
Explanation:
When contingent liability is recorded it is recorded by debiting income statement and creating a liability in balance sheet, also it is not accounted for until the amount of liability is pretty certain as without being clear about its occurrence and the amount involved the liability cannot be recorded.
There is no such loss account, there exists only income statement.
Therefore, with the above we can conclude that contingent liability is recorded only if:
is made if it is more likely than not that the liability has been incurred.
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Answer: b. using a fixed basket of goods and, therefore, will tend to overstate inflation.
Explanation:
CPI uses a fixed basket of goods each year and measure inflation by monitoring the changes in this basket over several years/ periods.
This has the tendency to overstate inflation however, due to three(3) main reasons: Substitution bias, Quality bias and New product bias.
With substitution bias, the CPI does not take into account that when products increase in price, people will substitute them for lower priced goods. Quality bias means that CPI does not account for change in quality. New Product bias means that CPI does not account for new and better products as it uses a fixed basket.
Put together these three can cause CPI to overstate inflation by as much as 1% sometimes.
Answer:
No, they would not.
Explanation:
Pebbles are too easy to come by. They would not be very valuable as everyone could easily get very many.
<span>1. If Emir says he wants an office with windows and a nice view he is expressing his need for a comfortable job environment. The answer is "b. his job environment".
2. If Lei bikes to and from work every day in order to train for the Olympics her values and work ethic are what are important to her. The answer is "d. her values".</span>
