1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
klio [65]
3 years ago
14

A foreign subsidiary of a U.S.-based company has been notified of a loss contingency with an estimated cost ranging between $220

,000 and $250,000 which is probable of resulting in an actual loss. Each dollar amount within this range of cost is equally likely of being the actual outcome. According to U.S. GAAP, what is the amount recognized as a provision for loss contingency?
Business
1 answer:
Marizza181 [45]3 years ago
3 0

Answer:

The amount recognized as a provision for loss contingency is $220,000

Explanation:

According to the United States  Generally Accepted Accounting Principles (US GAAP), the provision for loss contingency should be recognized based on the estimated amount. If the range is given then we should report the lower amount or minimum amount

In the given question, two amounts are given i.e $220,000 and $250,000

So $220,000 should be reported

You might be interested in
"Problems and Applications Q2
Marysya12 [62]

Answer:

When the Feds sells bond in open market, it INCREASE the money supply.

If the Feds want to decrease the money supply in THE ECONOMY, it can INCREASE the reserve requirements.

When the Feds increases the interest rate it pays on reserve, the money supply will DECREASE.

When Fomc decrease it target for the federal funds rate, the money supply will INCREASE.

When Citibank repays a loan it had previously taken from the Feds, it DECREASES the money supply.

6 0
3 years ago
Which part or phrase in the passage describes a method of primary market research that Jeremy might choose?
Flauer [41]

Answer:

The answer is B. I think.

Explanation:

7 0
2 years ago
Read 2 more answers
As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31. Th
fgiga [73]

Answer:

The answer is: $215,000

Explanation:

Railway Company should include the goods worth $35,000 that Rogers Consignment store has. Once this amount is included, the total inventory for Railway Company should be $215,000 ($180,000 + $35,000).

Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.

7 0
3 years ago
Assume that subway tokens are $1.50 today and the price will go up to $2.00 tomorrow. how many tokens would you buy?
Ivan

The number of tokens to be purchased will depend on the purchasing power of my present capital.

<h3>What is a subway tokens?</h3>

It means those metal or plastic disk that can be redeemed, used in designated slot machines which are mostly used to pay for entry to the subway system.

Despite that the effect of inflation could push the subway tokens which are $1.50 today to go up to $2.00, the number of tokens to be purchased will depend on the purchasing power of my present capital.

Read more about purchasing power

brainly.com/question/16467725

#SPJ1

7 0
2 years ago
The degree to which team members interact with and rely on other team members for the information, materials, and resources need
Mariulka [41]

Answer:

task interdependence is the correct answer.

Explanation:

The degree to which team members interact with and rely on other team members for the information, materials, and resources needed to accomplish work for the team is known as task interdependence.

The goal of task interdependence  is to alleviate the problems that arise when various assignments overlap and become the potential for disagreement.

Task interdependence within the team is an extent where the team members should communicate with each other to achieve their responsibilities and tasks.

Knowledge of task interdependence benefits company owners grasps how various branches and team members depend on the performance of each other.

5 0
3 years ago
Other questions:
  • ___________ is the ability of a product to satisfy a customer. A. Economic utility B. Value C. Purchasing power D. Outsourcing
    5·1 answer
  • Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicat
    8·1 answer
  • I feel nice so just tell me your fave game
    14·2 answers
  • Which of these are careers in the travel and Tourism pathway?check all that apply.
    15·1 answer
  • It is common in large breweries for the long-run average total cost to decline as output increases. this indicates that many bre
    10·2 answers
  • Which of the following does not describe a trial balance? a. Proves that all transactions have been recorded b. Proves the mathe
    15·1 answer
  • When using the indirect method to prepare the operating section of a statement of cash flows, which of the following is deducted
    11·1 answer
  • Oligopolies would like to act like a Group of answer choices duopoly, but self-interest often drives them closer to the competit
    6·1 answer
  • The government decides to place a tariff on platinum imports because it determines that mining practices abroad are not as stric
    15·1 answer
  • Opportunity costs are classified as ____ costs in project analysis. multiple choice question. irrelevant sunk relevant intangibl
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!