Answer:
The correct answer is B
Explanation:
The contingency is the plan, which is course of action for the business that would take if an unexpected situation occur. So, the contingency plan is the plan or method which ensures that the business is prepared for what may come.
Accrual for contingency, it is the information which is available previously to issuance of the financial statements that indicates the assets has been impaired and the loss amount could be reasonably estimated.
The one which is most likely need the accrual is the customer premium offers as it is the technique of sales promotion where the customers are provided two or more products and they pay the price lower of the combined products.
Answer:A
Explanation:
A joint ventures is a business entity created by two or more parties, generally characterized by shared ownership.
Answer:
$2,400 in 2019 are deductible as alimony.
Step-by-step explanation:
Hillary get divorced in the year = 2016
She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.
His son will reach of the age of 18 = 2016 + 7 = 2023
She has to pay $200 till 2023 and $120 thereafter.
Her payments are deductible as alimony in 2019 would be = $200 × 12
= $2,400
$2,400 in 2019 are deductible as alimony.
Answer:
Option A Written report that quantitatively describes a firm's financial health
Explanation:
The reason is that the financial statements reflects the firm's finanacial health in terms of profits & losses, Assets and its worth, Cash flows and Equity at the year end. This gives an overview where the company is heading. Financial statements gives an overview how the company has managed its costs, increased profits, increased investments, cash generation from core operations, etc. It has wide number of use for decision making purposes for its stakeholders.
