1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
galina1969 [7]
2 years ago
9

Hart Technology must accrue a loss contingency. The amount of the loss can be reasonably estimated within a range of outcomes. O

f these outcomes, no single amount within the range is a better estimate than any other amount, but the attorneys have determined that the most probable amount to be paid by Hart Technology would be the minimum amount. What amount of loss accrual should Hart recognize
Business
1 answer:
Shtirlitz [24]2 years ago
3 0

The amount of loss that should be recognized is the <u>minimum amount </u><u>of the </u><u>range. </u>

<u />

<h3>Recording a Contingent liability </h3>
  • It should only be recorded if the loss is probable and the amount to be incurred as liability can be reasonably estimated.
  • If neither of the above are possible, the loss would be recorded as a footnote.

US GAAP rules state however that if the loss is probable and the amount is in a range, the amount to be recorded as a contingent liability should be the minimum of the range.

In conclusion, they should recognize the minimum amount.

Find out more on contingent liabilities at brainly.com/question/17371330.

You might be interested in
In a unionized firm, the _____ clause of the collective bargaining agreement typically retains for management the authority to i
solmaris [256]
The answer is:  "management rights" .
_________________________________________________________
          "In a unionized firm, the <u>  management rights  </u> clause of <span>the collective bargaining agreement typically retains for management the authority to impose reasonable rules for workplace conduct and to discipline employees for just cause."
_________________________________________________________</span>
5 0
3 years ago
Jack, Jill and Maritza are employed as sales persons for Deuce Hardware Supplies. None was hired for a definite period and each
Natali [406]

Answer:

Jack has claim while Jill didn't have.

Explanation:

Jack has claim against Deuce Hardware because his performance is tremendous and make more sales for the company. He done his work very well so he can claim against Deuce Hardware Supplies while on the other hand, Jill has no claim against Deuce Hardware because he commit a crime on the basis of which the company has the authority to terminate him from the job. He works very well in the company but his crime is big enough to terminate him.

5 0
3 years ago
Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer differentiated product
LenaWriter [7]

Answer:

B) False

Explanation:

The correct phrase should be:

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.

An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.

8 0
3 years ago
James has a marginal tax rate of 24%. He suddenly realizes that he neglected to include a $7,000 tax deduction. How will this ov
Alex17521 [72]

Answer:

hmhgdmthde

Explanation:

7 0
3 years ago
Select the incorrect statement regarding costs and expenses.Multiple ChoiceExpenses are incurred when assets are used to generat
d1i1m1o1n [39]

Answer:

Manufacturing-related production costs are initially recorded as expenses

Explanation:

Cost is defined as an amount that has to be paid or spent to buy or obtain something. Cost can be specific, like, "What is the cost of a particular product?" or it can be a penalty, like consider the cost of missing the event.

Expenses sounds similar to that of cost: an amount of money that must be spent especially regularly ro pay for something.

Manufacturing cost are considered to as those that are spent to transform materials into finished goods. Manufacturing costs include direct materials, direct labor, and factory overhead.

Manufacturing cost are also known as factory cost or production cost

3 0
3 years ago
Read 2 more answers
Other questions:
  • MLA style is generally used in which of the following majors, courses and programs at Penn Foster
    10·1 answer
  • If the interest rate is 8%, what is the 4-year discount factor? What is the 4-year annuity factor? What is the relationship betw
    5·1 answer
  • Which economic system leaves production decisions completely up to the producers? 1. mixed economy 2. command economy 3. planned
    11·1 answer
  • Arises when there are many firms each selling an identical​ product, many​ buyers, and no restrictions on the entry of new firms
    10·1 answer
  • If you see a large group of stranded passengers standing next to a disabled bus, and you have only three seats in your car, deci
    11·1 answer
  • The human resources department at a major high tech company recently conducted an employee satisfaction survey of 100 of its 300
    8·1 answer
  • Tulane Tires wrote a contract for a $104,000 sale of tires to the new Garden District Tour Company. Tulane only anticipates a sl
    7·1 answer
  • Is Donald Trump a great president or Joe Biden?
    15·1 answer
  • Burrows, Inc. borrowed $100,000 from Last Bank by signing a formal agreement to repay the bank in 10 years. Burrows' journal ent
    7·1 answer
  • Genuineness, or reality, of agreement is said to be present in a contract when there is?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!