Distinguish between a current liability and a contingent liability. Give two examples of each type.
Question:
Distinguish between a current liability and a contingent liability. Give two examples of each type.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
A current liability is susceptible to precise measurement because the date of payment the payee and ...View the full answer
Answered By
Sandip Nandnawar
I am a B.E (Information technology) from GECA and also have an M.C.M from The University of RTMNU, MH.
I worked as a software developer (Programmer and TL). Also working as an expert for the last 6 years and deal with complex assessment and projects. I have a team and lead a team of experts and conducted primary and secondary research. I am a senior software engg and senior expert and deal with all types of CSE and IT and other IT-related assessments and projects and homework.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Students also viewed these Accounting questions
-
Distinguish between line and staff positions. Give two examples of each in a university setting.
-
Distinguish between a current liability, such as accounts payable, and a provision.
-
Give two examples of other receivables.
-
The following set of dotplots with overlaid boxplots gives the number of pairs of flip-flops students said they owned for 13 males (top) and 37 females (bottom) in a statistics class. The five-number...
-
Van Doren Corporation is considering producing a new temperature regulator called Digidial. Marketing data indicate that the company will be able to sell 45,000 units per year at $30. The product...
-
Analyze Sears using the competitive forces and value chain models. What are Searss strengths? What are its weaknesses?
-
Explain the steps for the discovery of use cases.
-
Consider the following information about three stocks: a. If your portfolio is invested 40 percent each in A and B and 20 percent in C, what is the portfolio expected return? The variance? The...
-
Calculate the integral of g(x,y) = 4x + 3y over the region [0,4] x [0,3]
-
1. Why do you think Rolls has continued to bear this structural currency mismatch so long? Why hasn't it done what many automobile companies have done, and move some of their manufacturing and...
-
Under what conditions a contingent liability should is recorded?
-
How are the terms probable, reasonably possible, and remote related to contingent liabilities ?
-
To find the Laplace transform of x(t)=r(t)2r(t1)+2r(t3)r(t4). (a) Plot x(t). Calculate dx(t)/dt, d 2 x(t)/dt 2 and plot them. (b) Use the Laplace transform of d 2 x(t)/dt 2 to obtain X(s).
-
What are the biochemical and physiological factors that render starch digestible for humans, whereas cellulose remains indigestible, despite both being composed of glucose monomers, and what are the...
-
You must identify and assess a minimum of 3 functional and 3 emotional benefits. You must use a criteria table to determine the appropriate key benefit. FOR NATURE VIEW FARM CASE STUDY BY HARVARD
-
How do alterations in chromatin structure affect gene expression regulation and ultimately contribute to cellular differentiation in multicellular organisms?
-
Company: Rochester Gas and Electric 1. Who are their main competitors? a. Think strategically b. Not just direct competitors, but what could customers use as substitutes For example, while an Apple...
-
Can you explain the role of non-coding RNAs, including microRNAs and long non-coding RNAs, in post-transcriptional gene regulation and their potential as therapeutic targets for various diseases?
-
With respect to the coordinate system \(x y z\), the state of stress at a point \(P\) in a solid is: a. \(\mathbf{m}^{1}, \mathbf{m}^{2}\) and \(\mathbf{m}^{3}\) are three mutually perpendicular...
-
You are a U.S. investor who purchased British securities for 2,000 one year ago when the British pound cost U.S. $1.50. What is your total return (based on U.S. dollars) if the value of the...
-
List the steps that the insertion sort algorithm would make in sorting the following values: 4, 1, 3, 2.
-
The SCF for MacLaren Supplies Limited, using the direct method of presentation for operating activities, is shown below. Required: 1. Some of the items included in operating activities, above, may be...
-
The SCF for Wave Electronics Limited, using the indirect method of presentation for operating activities, is shown below. Required: 1. Some of the items included in operating activities, above, may...
-
Return to the facts of A5- 16. Required: 1. Prepare the operating activities section of the SCF, using the indirect method of presentation but incorporating separate disclosure of income tax paid and...
-
Match the statements to the protocols * faster more reliable used for sending data TCP UDP both
-
1. Should managers try to maximize market value of equity or to maximize the accounting value of equity in the balance sheet? Why? 2. What is your understanding of the relationship between risk and...
-
How much risk is appropriate for a government-run annuity system? Is there an appropriate risk-return calculation to be made? Is Social Security risk free? What about political risk?
Study smarter with the SolutionInn App