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3 years ago

Concepts for Analysis 24-3 (Essay) Presented below are three independent situations.

Business

1 answer:

Helga [31]3 years ago

6 0

Answer:1. Make provision for warranty claims.

2. Disclosure of contingent liability

3. No cost should be recorded.

Explanation:

Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.

Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.

The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.

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Adjust the separate financial statements of Parent Inc. to reflect the proposed acquisition. Adjust Parent's pro forma 2019 fina

Dvinal [7]

Answer:

Separate financial statement are adjusted and prepared for parents and subsidiaries.

Explanation:

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3 years ago

Suppose the country of Lilliput exported 263 billion dollars worth of goods while they imported 477 billion dollars worth of goo

Usimov [2.4K]

Answer:

1. -$214 billion

2. a trade deficit

Explanation:

1. The balance of trade denotes the difference between the exports and imports.

In mathematically,

Balance of trade = Exports - imports

So,

Balance of trade = $263 billion - $477 billion

= -$214 billion

2. As the balance of trade comes in a negative amount which represents that imports value is more than the exports value so it would be a trade deficit

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3 years ago

When steve discusses the "buyer for outdoor" and the "buyer for running," what does he mean?

andre [41]

In this video, Steve means that the people who discuss the "buyer for outdoor" and the "buyer for running, are the people who determine the product mix for each of the categories. Product mix is also known as product assortment. The product mix is the total amount of product lines a company offers its customers.

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3 years ago

Who must make the determination to cancel an invitation for bids after bid opening?a.Contracting officerb.Chief of the contracti

Lesechka [4]

Answer:

c.Head of the contracting activity

Explanation:

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3 years ago

Lisa changes her filing status on last years tax return, and her standard deduction went up. Which of these could have been the

ira [324]

Lisa changes her filing status on last years tax return, and her standard deduction went up. Which of these could have been the change she made? "Single" to "head of household". Due to Lisa becoming head of household, she is able to claim her family as a deduction.

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4 years ago