What type of disclosure or accounting is necessary for each
What type of disclosure or accounting is necessary for each of the following items?
(a) Because of a general increase in the number of labour disputes and strikes, both within and outside the industry, there is more chance that a company will suffer a costly strike in the near future.
(b) A company reports a discontinued operation (net of tax) correctly on the income statement. No other mention is made of this item in the annual report.
(c) A company expects to recover a substantial amount in connection with a pending refund claim for a prior year's taxes.
Although the claim is being contested, the company's lawyers have confirmed that they expect their client to recover the taxes.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help