Answer:
a. Freeman estimates that it is reasonably possible but not likely that it will lose a current lawsuit. Freeman's attorneys estimate the potential loss will be $4,500,000.
- Describe the situation in a note to the financial statements.
Since the event is possible but not likely, it should be disclosed in the footnotes of the financial statements.
b. Freeman received notice that it was being sued. Freeman considers this lawsuit to be frivolous.
Since this is a frivolous lawsuit, there is no need to disclose it.
c. Freeman is currently the defendant in a lawsuit. Freeman believes it is likely that it will lose the lawsuit and estimates the damages to be paid will be $75,000.
- Record an expense and a liability based on estimated amounts.
Since the negative outcome is probable and you were able to quantify your losses, you must record the expense for $75,000 and include the amount as a current liability.
Answer:
The correct option is b) USD to GBP; GBP to CHF; CHF to USD.
Explanation:
A triangular arbitrage can be described as the act of taking advantage of a foreign exchange market arbitrage opportunity created by a pricing difference between three different currencies.
A triangle arbitrage method entails three deals, with the first currency being converted to a second, the second currency being converted to a third, and the third currency being converted to the first.
In the question, USD is the first currency, GBP is the second currency, and CHF is the third currency. Based on the explanation above, the three steps which will create triangular arbitrage profit are as follows: first step, convert <u>USD to GBP</u>; second step, convert <u>GBP to CHF</u>, and third step, convert <u>CHF to USD</u>.
Therefore, the correct option is b) USD to GBP; GBP to CHF; CHF to USD.
<span>JAD, joint application development, is a joint process that uses both the user and IT together to create the application. RAD, rapid application development, is similar to JAD but is much faster and takes far less time. Both are fast methods and can save cost for a company. With JAD it is likely to get a more quality product due to the involvement of the user in creating the application.</span>
The most directly applied sentence for capitalism is the price and availability of goods are determined primarily by the market. As the market is a free market in the economy.
<h3>What is Capitalism?</h3>
Capitalism is commonly thought of as an economic system in which private actors own and control the property.
According to their own interests, demand and supply freely set market prices in ways that benefit society.
Thus, option D which is iii only is correct.
For further details about capitalism refer to this link:
brainly.com/question/414301
Answer:
a. LIFO.
Explanation:
The LIFO method refers to an inventory method that means the item which is last purchased should be sold first during the period of time. So in this inventory method the earliest cost in the closing inventory should be recorded
Therefore the given situation, the correct option is a.
And, the other options are wrong
