Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
The amount of loss that should be recognized is the <u>minimum amount </u><u>of the </u><u>range. </u>
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<h3>Recording a Contingent liability </h3>
- It should only be recorded if the loss is probable and the amount to be incurred as liability can be reasonably estimated.
- If neither of the above are possible, the loss would be recorded as a footnote.
US GAAP rules state however that if the loss is probable and the amount is in a range, the amount to be recorded as a contingent liability should be the minimum of the range.
In conclusion, they should recognize the minimum amount.
Find out more on contingent liabilities at brainly.com/question/17371330.
Answer: redistribution
Explanation: In simple words, redistribution refers to the process in which something is distributed in way to achieve a specific objective like equality etc.
In other words, it can be seen as transfer of wealth or resources from one section of the society to the other sections. Redistribution is performed by governments of the country and is implemented using tools such as taxes, charity and public services etc.
Hence from the above we can conclude that the given example depcits redistribution.
