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barxatty [35]
3 years ago
10

Uncertainties such as natural disasters are: Select one: a. Estimated liabilities because the amounts are uncertain. b. Not cont

ingent liabilities because they are future events not arising from past transactions or events. c. Not contingent liabilities because they are future events not arising from past transactions or events. Contingent liabilities because they are future events arising from past transactions or events. d. Disclosed because of their usefulness to financial statements. e. Reported in the same way as debt guarantees.
Business
1 answer:
Dovator [93]3 years ago
6 0

Answer:

d. Disclosed because of their usefulness to financial statements.

Explanation:

A <em>liability</em> is a present obligation (Legal or Constructive) of an Entity that arises as a result of a past event and the settlement of which will result from an out flow of cash from the entity.

One class of Liability that relate to the case is a <em>Provision</em>.A provision is a liability whose amount can be determined with certainty.

A liability whose amount can not be determined with certainty is known as a <em>Contingent liability</em>.A contingent liability is not presented in the financial statements but is  only disclosed in the Financial Statements.

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Before starting a business, an entrepreneur should consider the following sacrifices: a. Professional b. Financial c. Personal d
andrey2020 [161]

Answer:

D. All of these are correct

Explanation:

Because truly before starting a business, an entrepreneur should consider the professional sacrifices as competence and expertise is a key factor in building an excellent business. Entrepreneurs need to have the know-how of their business or better still get able hands to handle it for them.

Setting up a Business would require some financial commitment. One which many atimes might not be convenient especially at the kick-off of the business. It's would a season of continuous investment not necessarily a season for profit making.

Personal sacrifice would be heavily needed and hence must be considered. Before starting a business, you must consider the sleepless nights, forgone comfort, play time and certain discipline you must imbibe if growing the business is indeed what is desire.

8 0
3 years ago
Task 2: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in
gavmur [86]

Answer and Explanation:

The journal entries are shown below:

a. Cash Dr $20,000

     To Capital $20,000

(being the issuance of the capital stock is recorded)

b. Rent Dr $5,000

      To cash $5,000

(being the rent paid is recorded)

c. Supplies dr $1,500

       To Account payable $1,500

(being the supplies purchased on account is recorded)

d. Account payable Dr $1,000

     To cash $1,000

(being the amount paid is recorded)

e. Cash Dr $25,000

       To sales commission $25,000

(being the sales commission earned is recorded)

f. Automobile expense $4,500

     To Cash $4,500

(being cash paid is recorded)

g. Office salaries Dr $8,000

      To cash $8,000

(being cash paid is recorded)

h Supplies expense $1,500

    To supplies  $1,500

(being supplies expense is recorded)

g. Dividend payable $1,500

     To Cash $1,500

(being dividend paid is recorded)

3 0
2 years ago
​kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. after the cereal begins to a
Dafna11 [192]
<span>The fact that Kellog is increases its promotion expenditure to counteract competitive responses means that </span>Kellogg's is in the​ maturity stage of the product life cycle. The maturity stage us the third stage of the product life cycle, and comes a<span>fter the </span>Introduction<span> and </span>Growth<span> stages.
</span>In this stage the companies are focused on maintaining their market share in the face of a number of different challenges.
7 0
3 years ago
LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

3 0
2 years ago
Which of the following statements, if any, represent a principal’s duty to an agent who works on a commission basis?
saul85 [17]

Answer:

a) The principal is required to maintain pertinent records and pay the agent according to the terms of their agreement.

Explanation:

The relationship between agent and principle is agreement based and differs from other agent-principle relationships.

Commission will be paid to agent as per their agreement.

4 0
3 years ago
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