1. Read Genesis 6:11-12 in your Bible and review the entire chapter for a broader context.

2. Navigate to the threaded discussion below and respond to the following prompts:

a. What are we basing our estimates on, especially when we need to book liabilities for unsettled litigation and unasserted claims?

b. Will we be tempted to create ‘cookie jar’ reserves during good periods that we can draw from during a downturn?

Identify situations that constitute contingencies and the circumstances under which they should be accrued?

Answer rating: 100% (QA)

Writing Assignment Instruction I The estimates should be based on past events and records Organizati... View the full answer