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3 years ago

A potential obligation that depends on the future outcome of past events is a contingent liability. true false

Business

1 answer:

stiks02 [169]3 years ago

3 0

Answer:

TRUE

Explanation:

A potential obligation that depends on the future outcome of past events is a contingent liability!

- An obligation is something that is to be done

- A potential obligation is a thing or activity that is among the options of stuff that can be done

- When something depends on the future outcome of past events, it introduces or carries with it, the cost of waiting (for future outcomes)

- A contingent liability is something that poses probability of loss instead of gain. The opposite of liability is asset.

So in business, a potential obligation or action that depends on the future outcome of past events is a contingent loss rather than gain.

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The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organiz

LenKa [72]

Answer: D. Common stock

Explanation:

Common stock refers to the security which represents ownership in a corporation.

The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organizing a corporation includes a credit to the common stock.

3 0

2 years ago

Maya got a job transfer from Italy to New York. After working for some time in New York, she started to understand the mental mo

alisha [4.7K]

Answer:

C. The capacity to empathize and act effectively across cultures.

Explanation:

Since in the question it is mentioned that the use the words and behavior that are compatible with the new york local culture so here the global mindset that arise in her life represent the attribute with related to the capacity for empathizing and it act effectively over and across the culture

so as per the given situation, the option c is correct

7 0

3 years ago

epper Department store allocates its service department expenses to its various operating (sales) departments. The following dat

ad-work [718]

Answer:

Pepper Department Store

The total advertising expense allocated to Department B is:

= $24,000.

Explanation:

a) Data and Calculations:

Expense Basis for allocation Amount

Rent Square feet of floor space $ 49,000

Advertising Amount of dollar sales $ 80,000

Administrative Number of employees $ 120,000

Department Square Feet Dollar Sales Number of employees

A 5,500 $ 355,000 31

B 5,900 $ 375,000 33

C 6,100 $ 520,000 35

Totals 17,500 $ 1,250,000 99

Advertising Expense Allocation:

Department A = $22,720 (355,000/$1,250,000 * $80,000)

Department B = $24,000 ($375,000/$1,250,000 * $80,000)

Department C = $33,280 ($520,000/$1,250,000 * $80,000)

6 0

2 years ago

Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countri

lina2011 [118]

Answer:

Infant industry.

Explanation:

In this scenario, Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countries and sold in the United States. Most likely, the argument it will voice in its attempt to be protected from foreign competition is the infant industry argument.

An infant industry can be defined as an industry that is still in its early stages of development and as such are not capable of competing with foreign companies.

<em>Hence, according to the infant industry theory the argument would be that infant industries should be offered some kind of protection from competitors in other industries either foreign or local until they mature and develop a good and reputable economies of scale. </em>

6 0

3 years ago

You wish to take an Excel course. You may enroll at one within your school or you may take a community class at the local librar

Paraphin [41]

Answer:

The chosen option (considering enrollment costs and opportunity cost) is:

b) College course.

Explanation:

a) Data and Calculations:

Costs/Benefits

College Course Community Course

Cost $2,600 $1,390

Opportunity costs -2,080 2,080

Net costs $520 $3,470

Distance to course 0.40 miles 16 miles

(walking distance) (driving distance)

Timing of course Weekday Weekend

Number of meetings 16 8

b) With the College course option, you will earn $2,080 ($260 * 8) weekdays to offset part of the enrollment cost. With the Community course option, $2,080 will be lost in opportunity cost, thereby increasing the total costs incurred. These costs are apart from the driving costs associated with traveling 16 miles to the Community Course at the local library.

5 0

3 years ago