A liability is a known obligation of either a definite or an estimated amount. Explain.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
Most debts specify a definite amount that is due at a spe...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A current liability is a short- term obligation that is normally expected to be settled within one year. For each of the following events and transactions that occurred in November 2014, indicate the...
-
7. An encumbrance represents the estimated liability for goods placed on order. True False 8. General funds and special revenue funds are entitled to record legally approved revenue budgets as...
-
Explain strict liability and provide an example.
-
You are supply chain manager for a company Yard-Depot located in Huntsville. You found a drywall sheetrock manufacturing company in South Nevada and signed a deal to buy sheetrock from this company....
-
Determine the appropriate amount of 2015 additional Medicare tax for Mario, a single individual. His wages total $440,000.
-
If f(x) and g(x) are differentiable functions, find g(x) if you know that d f(g(x)) = 3x '(x + 1). dx
-
Grandview Global Financial Services is an international corporation providing multiple financial services. Although it is one of the smaller players in the field, the firm has about 20,000 employees...
-
Cook Corporation manufactures plastic garbage cans. In a typical year, the firm produces between 40,000 and 50,000 cans. At this level of production, fixed costs are $10,000 and variable costs are $2...
-
What is the purpose of the Federal Reserve System, and how does it respond in recessionary times?What is the purpose of the Federal Reserve System, and how does it respond in recessionary times?
-
Liv Diaz wants to create a fund today that will enable her to withdraw R$25,000 per year for 8 years, with the first withdrawal to take place 5 years from today. If the fund earns 8% interest, how...
-
Liabilities are measured and reported at their current cash equivalent amount. Explain.
-
Define working capital. How is it computed?
-
Prove that the integrand is either even or odd. Then give the value of the integral or show how it can be simplified. Assume that f and g are even functions and p and q are odd functions. a L'rs...
-
The Frackville Power Plant combusts methane to produce electricity. The plant burns 37,500,000 cubic yards of methane each year. The plant produces 61,626,000 kWh of electricity. Calculate the...
-
Suppose the U.S. Treasury auctions $10 billion of 90-day bills, and the competitive bids are $6 billion at 1.670 %, $3 billion at 1.673%, and $2 billion at 1.675%. Noncompetitive bids are $1 billion...
-
A resident is complaining that the water in her bedroom sink is too hot. The temperature is measuring at 108 degrees F. Nothing, the temperature is fine Notify maintenance to lower the temperature...
-
What is data redundancy? What are the problems with data redundancy in file system. How is it solved/addressed in DBMS?
-
Two horizontal plates produce an electric field with a strength 6x10 3 N/C up. The two plates are 13 cm long and separated by 3cm. An electron is fired at an angle 45 degrees at a speed of 1.7x10 7...
-
Naik, AGM Materials, is fuming and fretting. He bumped into Kamath, GM Materials, threw the resignation letter on his table, shouted and walked out of the room swiftly. Naik has reason for his sudden...
-
Use the formula to determine the value of the indicated variable for the values given. Use a calculator when one is needed. When necessary, use the key on your calculator and round answers to the...
-
Show direct posting to ledger account for the following transactions and prepare trial balance: (i) Ramesh started business with cash 2,50,000 (ii) Deposited cash into bank 1,20,000 (iii) Purchased...
-
Cost of merchandise sold reported on the income statement was $360,000. The accounts payable balance decreased $17,800, and the inventory balance decreased by $28,000 over the year. Determine the...
-
Cost of merchandise sold reported on the income statement was $210,000. The accounts payable balance increased $8,600, and the inventory balance increased by $16,900 over the year. Determine the...
-
Totson Inc. reported the following on the company??s statement of cash flows in 2012 and 2011: Eighty percent of the cash flow used for investing activities was used to replace existing capacity. a....
-
The bonds of Venture Ltd . has 8 years remaining to maturity. Its annual coupon rate is 6 % with a face value of $ 1 , 0 0 0 . The prevailing market interest rate is 8 % . The interest is paid semi -...
-
Convert the following C functions into ARMv8 assembly language. Again, comment each line of assembly code on what it does. Note that local variables should be kept in function's stack frame. 1)...
-
What are the four main types of financial services?Which type of financial services will help you accomplish your short, intermediate, and long-term goals?For example, I use savings financial...
Study smarter with the SolutionInn App