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kirill [66]
3 years ago
12

Contingent liabilities should be recorded in the accounts when: it is possible the future event will occur the amount of the lia

bility can be reasonably estimated. both of the above either of the above
Business
1 answer:
slava [35]3 years ago
3 0
Either of the above would be correct
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What industry cannot rely on estimation
jeka94

There is no industry which can not relay on estimation, all industries needs estimation.

The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.

Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.

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7 0
2 years ago
What is the LEAST LIKELY way a firm can finance operations?
drek231 [11]

Answer:

D

Explanation:

6 0
3 years ago
Vaughn Manufacturing has estimated that total depreciation expense for the year ending December 31, 2021 will amount to $591000,
natali 33 [55]

Answer:

$915,000

Explanation:

Because half of the depreciation expense, and the expense on bonuses has already been reported by June 30,2021 (the half of the year), only hafl of the total money spent on the two items will have to be reported for the interim income statement ended on December 31, 2021:

$591,000 / 2 = $295,500

$1,240,000 / 2 = $620,000

Now, we simply add up these two figures:

$295,500 + $620,000 = $915,000

5 0
3 years ago
When an account previously written off is collected in full, which is required to ensure the accounting for the complete payment
Lyrx [107]

When a bad debt is written off, the thing that should be fine is an entry to reinstate the account receivable and and entry to record payment.

<h3>What is a bad debt?</h3>

A bad debt simply means an uncollectible account expense that's unlikely to be paid by a debtor.

When an account previously written off is collected in full, to ensure the accounting for the complete payment history of the customer, it's important to reinstate the account receivable and and entry to record payment.

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4 0
2 years ago
The reference section of scholarly articles often get ignored; not good. Which one of the following is a good reason to not only
GREYUIT [131]

A good reason why it is important not just to read but to also reference things appropriately would be to avoid the issues of plagiarism.

<h3>What does it mean to reference a work?</h3>

This is the term that is used to refer to the fact that a work has been accredited to the rightful people that own. When someone is writing, they may list several ideas from an outside sources, it is advised to reference the people that own the work that has been used in this writing.

Hence we can say that a good reason why it is important not just to read but to also reference things appropriately would be to avoid the issues of plagiarism.

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5 0
1 year ago
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