Answer:
is a potential liability that has arisen because of a past event or transaction.
Explanation:
A contingent liability is a potential liability that has arisen because of a past event or transaction.
Some of the characteristics of contingent liabilities includes being remote, probable, estimable, and reasonably possible.
In order to record a contingent liability as a liability on a company's balance sheet, it must be probable (likely to occur) and subject to estimate.
Hence, companies are advised to record the contingent liabilities so as to meet the Generally Accepted Accounting Principles (GAAP) and IFRS requirements.
Answer:
They collected $88,000
Explanation:
We have an initial balance of accounts receivable of $ 25,000. To this balance, we must add the revenue of the year a total of $ 119,000. By making this sum we get the result of $ 114,000, this would be the total of our accounts receivable totalized.
Subsequently, to this value we subtract the final balance of accounts receivable that was $ 56,000, to obtain a result of $ 88,000. In other words, $ 88,000 would be the amount collected from accounts receivable during the year.
Answer:
To minimize cost, the pipe should follow a rectangular path.
Explanation:
Let us denote the square bottom of the dug pit as
P = S²
and its cost will be P = 2S² = 4S to dig
Let us denote the height of the pit as H,
Therefore, Total area of the pit will be:
4SH
and its cost is 2SH
The volume of the pit is
v= S²H = 4² × 2 = 128
Total cost therefore is =
C = 2S² + 2SH
This therefore translates to
128 = s²h
Making H the subject of the formula,
we have, h = 128 / S²
Cs therefore = 2S² +2S . 128 / S²
Cs = 2S² + 256 / S
Cs = 4S - 256 / S²
Cs = 4S³ - 256 / S
4S³ - 256 / S = 0
4S³ - 256 - 0 = S
Solving further, S = 4
Where,
H = 128/64
= 2
Therefor, S = 4 and H= 2
So our pipe will follow a rectangular path to properly minimize cost.
Answer:
Explanation:
What can you do with a degree in Health and Human Services?
While there are many career opportunities within this field, here are 10 of the best options that graduates of human services degree programs can consider.
Case Worker.
Community Outreach Worker.
Substance Abuse Counselors.
Social and Community Service Management.
Court Support Workers.
Social Worker.
Family Court Advocate.
