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lisov135 [29]
3 years ago
14

Star Company has a contingent liability that has a likelihood of actual occurrence that is classified as probable. Also, the amo

unt of the liability can be reasonably estimated. Under these circumstances, Star is required to
Business
1 answer:
Alexxandr [17]3 years ago
7 0

Answer:

recognize a liability and an expense in its financial statements.

Explanation:

Contingent liability refers to a liability that arises in some unpredictable future event. In this, the amount is expected or predicted.

Here in the question the actual occurrence would be categorized also its amount would be predicted so the same is to be recorded as a liability and recorded as an expense in the financial statement i.e. balance sheet & income statement

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The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of decl
Vinvika [58]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

6 0
4 years ago
A researcher tests whether the mean cholesterol level among those who eat frozen pizza exceed the value considered to indicate a
ANEK [815]

In hypothesis testing, one can only positively prove something by disproving the null hypothesis. I this case, the null hypothesis is that there is no relationship between eating frozen pizza and dangerous cholesterol levels.

<span> A p value of a statistical summary (such as the sample mean difference between two compared groups) indicates the probability that the null hypothesis is true. Generally, a p value < 0.05 is usually taken to be statistically significant, i.e. a 5% chance that the null hypothesis is true. In this case, the relationship was find to be non-significant.</span>
4 0
3 years ago
Which statements best describe how businesses can take advantage of globalization? Check all that apply.
hammer [34]

Answer:

Answers 1, 3 and 5 are correct

Explanation:

With globalization using lower labor costs in other countries ocurs through things like outsourcing. Transporting resources quickly from distant locations can also be done through globalization. For example, the U.S. imports less expensive from countries like China. Communicating more quickly with other countries can be see through social media etc.

5 0
3 years ago
Read 2 more answers
Hi how are you all day
Oksi-84 [34.3K]

Answer:

good

Explanation:

4 0
3 years ago
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Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income
soldi70 [24.7K]

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.

4 0
4 years ago
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