Assume that a company is not legally required to restore the land after it has ceased mining.
Question:
Assume that a company is not legally required to restore the land after it has ceased mining. Nevertheless, it has determined that it will restore the land because ‘it is the right thing to do’. Would the company recognise a liability?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
The recognition of liabilities is not restricted to liabilities that only arise because of legal obligations Constructive or equitable obligations can ...View the full answer
Answered By
Ajeet Singh
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
4+ Reviews
24+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
A business model that uses advertising revenue to provide some content for free, combined with an option to obtain additional content for a price is called a(n) ________ model. A. Distribution B. A...
-
A 160-day note has a Face Value of $11,000 and a rate of 9.5%. A partial payment of $2,100 is made after 30 days. A second partial payment of $3,000 is made 15 days after the first one. Find the...
-
1. What are some other ways in which HEALTHeLINK could be used to support public health activities?
-
True or False: 1. Demand-pull inflation causes the prices of the goods producers sell to rise faster than the costs of the inputs they use in production. 2. As long as AD is increasing more rapidly...
-
What are the two methods for accounting for passive equity investments? Explain how the methods differ in valuing investments on the balance sheet. Explain how the methods differ in their treatment...
-
Describe how patient autonomy has been impacted by case law and legislative enactments.
-
A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects data on recent house sales (Price) and notes each houses square footage (Sqft) as well as...
-
Selected data from the statement of cash flows of Park Corporation are as follows: Operating Activities Net cash provided by (used in) operating activities Investing Activities $ 46,000 Additions to...
-
A columnist made the following comment in an online article: "In any case, the Q-factor approach, unlike consumption CAPM, explains where the anomalies come from (and why they might end). Consumption...
-
If a decision is made to abandon an area of interest, how should any pre-production costs in respect of that area be treated?
-
Generally speaking, what costs should be included in the cost of inventory of an entity involved in the extractive industries? Explain your answer.
-
What should managers focus on during employee counseling sessions? a. Employee values b. Employee beliefs c. Employee behavior d. Employee attitudes
-
Current Designs faces a number of important decisions that require incremental analysis. Consider each of the following situations independently. Situation 3 One of Current Designs competitive...
-
The following information applies to the questions displayed below. ] Jorgansen Lighting, Incorporated, manufactures heavy - duty street lighting systems for municipalities. The company uses variable...
-
Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 1 0 0 percent of the corporation s stock. The property transferred to the...
-
Q.2 During the review of accounting records and financial statements of Jelly Traders (JT) for the year ended 30 June 2023, the following errors were highlighted: (i) A payment of Rs. 90,000 to a...
-
At the end of 2016, Framber Company received $8,000 as a prepayment for renting a building to a tenant during 2017. The company erroneously recorded the transaction by debiting Cash and crediting...
-
According to a USA Today Snapshot, 3% of Americans surveyed lie frequently. You conduct a survey of 500 college students and nd that 20 of them lie frequently. (a) Compute the probability that, in a...
-
Why is a help desk and production support critical to system implementations? Discuss its interrelationship with the problem management and reporting system.
-
What types of businesses are most likely to use a perpetual inventory system?
-
Identify the accounts that are added to or deducted from purchases to determine the cost of goods purchased under a periodic system. For each account, indicate (a) Whether it is added or deducted,...
-
In the following cases, use a periodic inventory system to identify the item(s) designated by the letters X and Y. (a) Purchases X Y = Net purchases. (b) Cost of goods purchased Net purchases + X....
-
Lab activity Properties of a Circle write, run, test, correct, and submit a Java program that computes and displays information about the various properties of a circle, such as radius,...
-
Develop the graphical user interface using the Processing environment. The specific implementation details and images, as well as skeleton code are provided, but if you wish to add any further...
-
Write a Java class named aMergeSortDoubles.java that accepts an integer command line argument Use that integer argument to create an array of Doubles (use the Wrapper class) Initialize the array with...
Study smarter with the SolutionInn App