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Svetllana [295]
4 years ago
11

Which of the following best exemplifies a contingency that is reported in the notes to the financial statements?

Business
1 answer:
timurjin [86]4 years ago
6 0

Answer:

The correct answer is letter "C": Estimated loss from an ongoing lawsuit.

Explanation:

A contingent liability is an amount that will need to be charged in the future but there are still outstanding problems that only make it a possibility. Litigation and the threat of litigation are the most common contingent liabilities, but this category also includes product warranties. If they are probable and the sum can be calculated, contingent liabilities must be reported on the company's Balance Sheet.

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Which of these statements best represents the law of supply? select one:
sweet [91]

c. when the price of a good decreases, sellers produce less of the good.

According to the law of supply, an increase in price results in an increase in quantity supplied. This means that there is a direct relationship between price and quantity:  Thus, when price of a good falls, sellers produce less


8 0
4 years ago
An aggregate demand (AD) curve shows the a. amount of a particular good people are willing and able to buy at a particular price
xenn [34]

Answer:

D. real output (Real GDP) people are willing and able to buy at different price levels, ceteris paribus.

6 0
3 years ago
State 2uses of sulphuric iv acid​
antiseptic1488 [7]
Color dyes and explosions will be your answer!
Other things sulphuric acid can create would be drugs, nitric acid, and hydrochloride acid.
3 0
3 years ago
A general journal is: Multiple Choice A.A ledger in which amounts are posted from a balance column account. B.A book of final en
Katyanochek1 [597]

Answer:

D. A complete record of all transactions in chronological order from which transaction amounts are posted to the ledger accounts.

Explanation:

A general journal -

It refers to a notebook , which helps to list all the transactions , any accounting information , in a regular manner , is referred to as a general journal .

The journal is used to get the information or data from the past for a specific date and time .

This enable to collect the data in a brief and precise manner .

Hence , from the given information of the question ,

The correct option is D.

5 0
4 years ago
Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer
DaniilM [7]

Answer: See explanation

Explanation:

1. Ownership rights cannot be easily transferred - False

The ownership rights can be transferred easily.

2. Owners have unlimited liability for corporate debts - False

They have a limited liability.

3. Capital is more easily accumulated than with most other forms of organization. - True

This is true as shares can be issued in order to generate capital.

4. Corporate income that is distributed to shareholders is usually taxed twice. -

True

5. It is a separate legal entity. - True

The corporate form of organization enjoys separate existence as their assets and the liabilities of the organization are different from their owners.

6. It has a limited life. - False

They've an unlimited life.

7. Owners are not agents of the corporation. - True

This is true. It should be noted that the owners aren't the agents of the corporation.

4 0
3 years ago
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