Answer:
True
Explanation:
The statement is true, as evaluating one's own performance is quite easy, whether I performed good or bad, it is natural to know that.
But, when you know that the competitors have also performed really well, then we think that there are less chances of getting selected because then we doubt on our own capabilities.
This is a normal human tendency that happens and thus, the statement here is true.
The answer to the first question is C. screen;deductible;premium. <span>By offering a menu of policies with different premiums and deductibles, insurance companies can <span><em>screen</em></span> their customers; for example, a low-risk customer </span><span>will often buy insurance with a lower <em>deductible</em> but a higher <em>premium</em> than a high-risk customer.
The answer to the second question is C $2, 161.98. </span>
Answer: Debit: Litigation expense $300,000
Credit: Litigation liability $300,000
Explanation:
Loss contingency is typically a charge to expense for a future occurence in this case, a lawsuit. A loss contingency simply makes the economic entity to be aware at an early stage of the loss and its likely financial implication.
The entries that Buchanan should record to recognize this loss contingency will be to:
Debit: Litigation expense $300,000
Credit: Litigation liability $300,000
