Answer:
See explanation
Explanation:
See the image below to get the appropriate answer:
Answer:
D. The minimum of the range
Explanation:
First, it is essential to note the accrual of loss contingency is accruable only if the amount is estimable to a reasonable extent and the loss is also probable. Wyatt Co's loss is actually both probable and reasonably estimated so it meets the two criteria.
Furthermore, since it is reasonable within a rang of outcomes, Accounting Standards Codification Topic 450 (of the Financial Accounting Standard Board) dictates the amount to be accrued should be the better estimate of all amounts within the range.
The standard further states that in a situation where a better estimate can not be determined among the other amounts within the range then the amount accrued should be the one at the range's low end or the minimum amount of the range.
All these criteria shows that Wyatt CO's loss should accrue the minimum amount in the range
Answer:
B. Process cost accounting system.
Explanation:
On Process costing the cost added during the month are allocated to the units that passed through the process.
It is use for high volume of homogenueos units, meaning a unit has no diference with another and their cost are the same. This goes with the concept of equivalent units, so the ending inventory can be valuated base on completion.
DEPARTMENT OF LABOR
Occupational Safety and Health Administration
[Docket No. C-02]
Safety and Health Program Management Guidelines; Issuance of Voluntary Guidelines
AGENCY: Occupational Safety and Health Administration (OSHA). Department of Labor
ACTION: Issuance of voluntary guidelines.
SUMMARY: The Occupational Safety and Health Administration (OSHA) is issuing safety and health program management guidelines for use by employers to prevent occupational injuries and illnesses.
https://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=federal_register&p_id=12909
Answer: Comparability
Explanation:
Comparability describes information that is measured and reported in a similar manner for different companies. It helps users understand the real similarities and differences in economic activities between companies.
