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Maurinko [17]
3 years ago
6

Analyzing Contingent and Other Liabilities:

Business
1 answer:
miskamm [114]3 years ago
6 0

Answer:

1. Situation is that a Stockholder has filed a lawsuit against C corporation.

Accounting treatment: Neither record nor disclose any liability.

Since the liability is not at all possible, it should be neither recorded nor disclosed.

2. Situation: F signed a 60 days, 10% note when it purchased items from another company.

Account treatment: Record the liability on the balance sheet.

Real liability that is both certain and the liability amount can also be reasonably estimated.  It should be recorded on the balance sheet.

3. The EPA notifies S co that a state where it has a plant is filing a lawsuit.

Account treatment: Disclose the liability in a financial statement footnote.

The liability is probable but not certain and liability amount can also be reasonably estimated.  It should be disclosed in financial statement footnote.

4. Situation: Company manufactured and sold products to a retailer that later sold product to consumer.

Account treatment: Record the liability on the balance sheet.

Real liability that is both certain and the liability amount can also be reasonably estimated.  It should be recorded on the balance sheet.

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How presenting a professional image through appearance, behavior, and language assists in finding employment?
Kamila [148]

Answer:

Professional image is  mandatory in finding the employment.

Explanation:

Presenting a professional image plays an important role in finding employment. It is our behavior, appearance, and way of communicating that help in attracting employment.

If our appearance is not appealing and our communication skills are weak and our behavior is not as per the requirements of the job then we might face difficulty in getting a job. Professional presentation is vital and expected by the person recruiting the employees.

8 0
2 years ago
The workers of Tight Footing, a tile manufacturing plant, wanted a raise. However, the management did not want to give the worke
AveGali [126]

Answer:

Soldiering

Explanation:

The principles of scientific management describes how productivity should be carried out in a work place and the different methods and strategies to be applied to ensure smooth and maximum productivity.

Scientific management involves four principles, they include:

1) Viewing a job thoroughly to determine the best way in which the work will be carried out by devising unique methods and approach.

2) Employing and training the right set of individuals to perform the job.

3) Monitoring the performance of the workers.

4) Carrying out a system of division of labour between the management and the workers.

Soldiering can be described as a situation in which workers deliberately carry out their activities below their capacity.

4 0
3 years ago
Read 2 more answers
In what way does the kettle falls five case illustrate a weakness of a federal system? choose the best answer.
almond37 [142]

The kettle falls five case illustrate a weakness of a federal system in such a way that f<span>ederalism limits political power and that it depends on compliance of state.</span>
<span>The federal system also aggravates the efficiency in awareness of Policies and its implementation. The kettle falls five case was very surprising.</span>

6 0
2 years ago
During 2020, Flint Corporation reported net sales of $5,490,000 and net income of $1,320,000. Its balance sheet reported average
koban [17]

Answer:

The asset turnover is 3.66 times

Explanation:

Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.

Formula for Asset turnover is as follow

Asset Turnover = Net sales / Average total assets

Asset Turnover = $5,490,000 / $1,500,000

Asset Turnover = 3.66 times

It means that the sale for the period is generated to 3.66 times of average total asset of the business.

5 0
2 years ago
I don’t understand this and need help
LuckyWell [14K]
I think tools, design, and materials
6 0
3 years ago
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