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KiRa [710]
3 years ago
9

"liabilities are obligations denominated in precise monetary terms." do you agree or disagree? Explain.

Business
2 answers:
alexgriva [62]3 years ago
6 0

Answer:

<h2>Disagree.</h2>

Explanation:

Liability refers to an obligation, generally speaking.

This concept often refers to a company's legal financial debts or obligations that appear during the company operations. However, not only refer to monetary term. Obligations can also imply goods or services. That's why the answer here must be "disagree", because the given statement defines it just in monetary terms.

Therefore, liability includes loans, mortgages, deferred revenues, accounts payable, goods and services which depend on the type of corporation.

Korolek [52]3 years ago
4 0

Disagree. Liabilities can be met in ways other than money.

In accounting, a liability is a debt that is owed and must be payed with money, but there are also legal liabilities and other obligations that are not monetary.

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4 0
2 years ago
On 3/15/20, Robertson Corp. bought land from Lear, Inc. for $248,000. Lear had carried the land on its books at $240,000. Robert
ruslelena [56]

Answer:

$248,000

Explanation:

According to the historical cost principle, the fixed assets should be recorded at the purchase price or the acquired price.

Since in the question it is mentioned that the land is purchased from Lear inc for $248,000 and the other transactions are also there

So here the land should be recorded at the purchase price i.e. $248,000

4 0
3 years ago
Which one of the following statements is correct if a firm has a receivables turnover of 36.5? Group of answer choices It takes
Free_Kalibri [48]

Answer:

The firm collects on its sales in an average of 10 days

Explanation:

if the receivables turnover is 36.5 it means it colect his accounts 36.5 times per year

we can convert this into a days metric:

<em>the days account is outstanding:</em>

365 days per year / we collect 36.5 per year = 10 days to collect an account on average

The acounts are collected every ten days on average.

7 0
3 years ago
An item not normally included in ansi recommendations but recommended by other groups is
dybincka [34]

The item that is not normally included in the ANSI recommendations but are included and recommended by other group is the defibrillator, this is useful in medical situations in which it has the ability to treat cardiac dysrhythmias that is life threatening. 

6 0
3 years ago
Read 2 more answers
Not to sure abt my ans.. i need some confirmation lol
koban [17]

Answer:

your answer is correct

Explanation:

4 0
3 years ago
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