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2 years ago

How should a loss contingency that is reasonably possible and for which the amount can be reasonably estimated be reported

Business

1 answer:

guajiro [1.7K]2 years ago

5 0

Answer:

as a footnote in financial statements or on the balance sheet

Explanation:

A loss contingency can be defined as the situation or occurrence in which there is uncertainty about an entity but that will be resolved when a/some future situation occurs or not.

Simply put, a loss contingency can be said to be loss of an entity that can be resolved later in future by the occurrence or not of an event.

When a loss can be reasonably estimated as seen from the question, it should be written as a footnote on a financial statement or on a balance sheet.

cheers.

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Livi owns and operates Livi's Love From Scratch cupcake bakery. Livi has 10 locations throughout her state. When Livi is produci

hoa [83]

Answer:

Diseconomies of Scale

Explanation:

On the contrary to economies of scale which save costs when production levels go up, diseconomies of scale make costs go higher when their is an increase in the size of the organization.

Livi's Love From Scratch cupcake bakery has increased in size to reach 10 locations and this has caused crowed areas and delays.

4 0

2 years ago

EB13.

damaskus [11]

Answer:

Product Selling price Unit variable cost

$ $

Trunk switch 60 28

Gas door switch 75 33

Glove box light 40 22

175 83

Composite contribution margin

= Composite selling price - Composite unit variable cost

= $175 - $83

= $92

Composite contribution margin ratio

= Composite contribution margin

Composite selling price

= $92

$175

= 0.525714285

Composite break-even point in dollars

= Fixed cost

Composite contribution margin ratio

= $18,840

0.525714285

= $35,837

Explanation:

In this case, there is need to add all the selling prices to obtain composite selling price. We also need to add all the unit variable costs to derive composite unit variable cost.

Composite contribution equals composite selling price minus composite unit variable cost.

Composite contribution margin ratio is the ratio of composite contribution to composite selling price.

Composite break-even point in dollars equal fixed cost divided by composite contribution margin ratio.

3 0

2 years ago

A type of vertical bar chart in which the categories are plotted in the descending rank order of the magnitude of their frequenc

FrozenT [24]

A contingency table consists of a double entry table with rows and columns in which the categories are plotted in descending order of the magnitude of their frequencies.

<h3>What is a contingency table?</h3>

They are frequency tables in which data from two qualitative variables are recorded and the relationship between them is analysed.

In these tables, the rows represent the categories of one variable and the columns the categories of the other variable or characteristic under study.

The cell located at the intersection of a given row and column, collects the absolute frequency simultaneously presented by the modalities that occupy the corresponding row and column.

Therefore, we can conclude that a contingency table consists of a double entry table with rows and columns in which the categories are plotted in descending order of the magnitude of their frequencies.

Learn more about contingency tables here: brainly.com/question/5492865

8 0

1 year ago

Nation A has expansive manufacturing capabilities, and, therefore, its economy focuses on selling goods to other countries. Coun

taurus [48]

Answer:

The international monetary fund.

Explanation:

The international monetary fund is made up of 189 countries around the world that foster global monetary cooperation, promote high employment, secure financial stability, facilities international trade, and reduce poverty. It periodically depends on the World Bank for funding.

Countries that are having problems with balance of payment can borrow money from IMF pool of resources.

In this scenario country B is unable to pay for goods bought from country A till it makes export. There is a problem of balance of trade. The IMF can help country B make the payment by borrowing it funds.

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2 years ago

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Because barcelona is constantly raising the bar, the company experiences high turnover and is constantly hiring. why might scott

VMariaS [17]

A company is said to have a high turn over rate when it sacks old employees and hire new employees on a regular basis. Scott may want to change his approach to human resource management because, high turn overate is bad for the health of a company for the following reasons:
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2. High cost of recruitment of new staff.
3. High cost of settlement for sacked employees.
4. It leads to lowered employees' productivity.
5. It negatively impacts the brand of the company.

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3 years ago