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.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
A company estimates its sales at 200,000 units in the first quarter and that sales will increase by 20,000 units each quarter over the year.
They have, and desire, a 25% ending inventory of finished goods.
Production required for the third quarter:
Sales= 200,000 + 40,000= 240,000
Ending inventory desired= 260,000*0.25= 65,000
Beginning inventory= (240,000*0.25)= (60,000)
Total= 245,000
Answer: The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
Explanation:
Based on the information given in the question, we should note that the court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
We should note that under a predominant purpose test, it will apply when the transaction involved is Mena for goods sales and not for the service sales.
Answer:
Missing word <em>"Roll over each of the items below to read about the proportion of marketing employees at different times. Then drag each item into the correct position in the matrix."</em>
Note: The matrix in the question is attached as picture below
Year 2016
Sales mgr Sales Rep Sales asst. Not in
Organisation
<em>2012</em>
Sales Maintain Management Manager Manager
manager Management Representative Assistant Turnover
Position Demotion Demotion
Sales Rep Sales Rep Maintain Rep Rep assistant Sales Rep
Promotion Position Demotion
Sales Asst manager Management Maintain asst. Sales Asst
assistant Promotion Promotion position Turnover
Not in Manager New Sales Rep Sales Assistant
Organi- Hire New Hire New Hire
sation