1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Len [333]
3 years ago
6

The entry to accrue a contingent liability reduces equity but not income. is made if it is more likely than not that the liabili

ty has been incurred. includes a debit to a loss account. is recorded even though not reasonably estimated.
Business
1 answer:
Lorico [155]3 years ago
3 0

Answer:

is made if it is more likely than not that the liability has been incurred.

Explanation:

When contingent liability is recorded it is recorded by debiting income statement and creating a liability in balance sheet, also it is not accounted for until the amount of liability is pretty certain as without being clear about its occurrence and the amount involved the liability cannot be recorded.

There is no such loss account, there exists only income statement.

Therefore, with the above we can conclude that contingent liability is recorded only if:

is made if it is more likely than not that the liability has been incurred.

You might be interested in
What age groups are cared for by primary care physicians?
spayn [35]
Primary care physician are health professionals who take care of patients who have the same medical conditions. Primary care physicians are usually involved in their patient care for a long time. All age group of people can be cared for by primary physician, depending on the type of care that is needed. For example, pregnant women are usually cared for by gynecologists. 
3 0
3 years ago
Read 2 more answers
Inflation is best described as _____.(1 point)
Kryger [21]

Inflation is the situation money is losses some of its value due to general process levels rises in the economy.

  • Hence it can be best be defined as the increase in the amount of money and credit in the economy related to the supply of services and goods.
  • Thus its an upward, general trend of prices in the economy. Hence the option D is correct.

Learn more about the best described as.

brainly.com/question/15588968.

5 0
2 years ago
Read 2 more answers
3. Which of the following occupations relate to a skill category of mathematics and data? Select
AURORKA [14]

did you ever get the right answers  if not


2 is D

3, is engineer and financial analyst

4 is educator nd lawyer

7 0
3 years ago
Kirsten is experiencing a great deal of anxiety about her first Algebra II test. "I know that Mr. Dade has a reputation for bein
topjm [15]

Answer:

Stereotype threat

Explanation:

Stereotype refers to preconceived perspective about a particular people or group. Stereotype threat, coined by Claude Steele and Joshua Aronson, refers to a way a person behaves that tend to confirms the negative stereotype about a particular race, gender and others. In Kristen's case the added stress generated by her anxiety about the Algebra II test  as a result of the supposedly tough teacher coupled with the preconceived notion that girls are not good in math may lead to her actually failing the test or performing badly. If this feeling were to be removed she may not actually fail or perform poorly in the exam.

6 0
3 years ago
College students often buy cheap pizza because it is more affordable. suppose after graduating, college students find high-payin
il63 [147K]
The demand for cheap pizza will <span>decrease because demand for cheap pizza is negative related to income.
a relation could be considered as negative if the correlation between two events opposing one another. As students finds high paying job, they are now able to buy more expensive pizza, which means that a number of customers for cheap pizza will be decreased</span>
4 0
3 years ago
Other questions:
  • What is the hourly wage of an orthodontist in 2012
    15·2 answers
  • The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $6.2 million, and the 2018 balance sheet showed l
    11·1 answer
  • ​Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on th
    7·1 answer
  • In 1985, you received a
    11·1 answer
  • how would you predict the survivorship curve of a developed country would compare to that of a developing country
    6·1 answer
  • 1. Which design style resembles a half-moon?
    6·2 answers
  • What is the order of operations?
    7·2 answers
  • What represents the value of the second-best alternative that a person gives up when making a choice?
    6·1 answer
  • You estimate you'll need $200,000 per year for 25 years starting on your 65th birthday to live on during your retirement. Today
    13·1 answer
  • When museums charge a lower admission fee to students and senior citizens, this form of price discrimination is known as _______
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!