ACC $201$

Chapter $2$ Open$-$Ended Assignment

Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below.

Required:

Uncertainties arise in many areas of accounting. For each of the following, indicate in the space under the bold red sentence below at least one reason an uncertainty could exist that would impact the balance reported.

A$.$ Inventory

B$.$ Receivable from a customer

C$.$ Equipment

D$.$ Income taxes payable

E$.$ Liability from lawsuit

Your answers to this open$-$ended assignment should be placed in the space below this line.