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
Nesterboy [21]
3 years ago
6

Away Travel filed suit against West Coast Travel seeking damages for copyright violations. West Coast Travel's legal counsel bel

ieves it is reasonably possible that West Coast Travel will settle the lawsuit for an estimated amount in the range of $100,000 to $200,000, with all amounts in the range considered equally likely. How should West Coast Travel report this litigation?
Business
1 answer:
Zepler [3.9K]3 years ago
7 0

Answer:

As a disclosure only. No liability is reported

Explanation:

According to the International Accounting Standard IAS 37 Provisions, Contingent Liabilities and Contingent Assets, contingent liability can only be recorded if the likelihood of recording of the loss is reasonably probable and in this case the chances of occurence of the liability is reasonably possible which must not be recorded. The only effect would be disclosing the litigation matter and not including the liability amount that will arise if it goes wrong.

You might be interested in
The management of Entertainment Electronics sees itself as a topnotch producer of components used in DVD and Blu-ray players. Th
mezya [45]

Answer: b. Core competencies

Explanation: A company's core competencies are the characteristics of the company that makes them stand out from competition. In other words, they are combination of multiple resources, knowledge, expertise and skills that differentiates them in the marketplace thereby forming a basis for competitiveness.

To be classified as a core competency, the activity must provide superior value or benefits to the end-user, should be difficult to replicate or imitate by a competitor and sometimes rare.

7 0
4 years ago
Uusiess will have to spend a lot of money to
lukranit [14]

Answer:

A

Explanation:

5 0
3 years ago
What are colonias? mexican factories that have high death rates due to poor working conditions. rural, unincorporated slums on t
garri49 [273]
Unincorporated slums on the texas side of the border that have substandard housing
6 0
3 years ago
Organizations can become "bad barrels" because ​ a. they do not allow employees to pursue their own individual values. b. the pr
KatRina [158]

Answer: The pressure to succeed creates opportunities that reward unethical decisions.

Explanation: "bad barrels" has attempted to identify characteristics of organisations that make them particularly vulnerable to tolerating or even encouraging destructive behavior. Organizations can become "bad barrels" because the pressure to succeed creates opportunities that reward unethical decisions. Bad barrels explains misbehaviour in the workplace.

5 0
4 years ago
During the current year, the Jules Company incurred the following product costs:Direct materials used in production $250,000Dire
ICE Princess25 [194]

Answer:

Option (D) is correct.

Explanation:

Given that,

Direct materials used in production = $250,000

Direct labor = $185,000

Manufacturing overhead = $245,500

Beginning Work in Process Inventory = $20,000

Ending Work in Process Inventory = $30,000

Cost of finished goods manufactured for the year:

= Direct materials used in production + Direct labor + Manufacturing overhead + Beginning Work in Process Inventory

= $250,000 + $185,000 + $245,500 + $20,000 - $30,000

= $670,500

5 0
3 years ago
Other questions:
  • The inflation rate over the past year was 3.8 percent. If an investment had a real return of 6.9 percent, what was the nominal r
    8·1 answer
  • Wassup Mrs. Lorenzo?
    8·1 answer
  • Instead of living in a service economy, we now live in a(n) ________ economy.
    10·1 answer
  • After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a
    11·1 answer
  • Ticasso Co. issued 5,000 shares of its $1 par common stock, valued at $100,000, to acquire shares of Eurat Company in an all-sto
    14·1 answer
  • A group known as ______________, which included graphic designer wim crouwel, product designer frisco kramer, and graphic and ar
    8·1 answer
  • A bank has $650,000 in assets to allocate among investments in bonds, home mortgages, car loans, and personal loans. Bonds are e
    6·1 answer
  • Why is producing a high quality product important to rolls royce ?
    5·1 answer
  • Which precaution should be taken to prevent cross contact?
    14·1 answer
  • Threadless receives immediate customer feedback on specific promotions through online orders. What type of control does this rep
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!