Question: I need the answer very fast without explain A contingent liability A. ahways exists as a liability but its amount and due date are indeterminatie.

I need the answer very fast without explain

A contingent liability A. ahways exists as a liability but its amount and due date are indeterminatie. B. is accrued even though not probable. C. is always the result of a gain contingency. D. is not reported as a liability if not probable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

1.When measuring the discounted amount of future rentals to be capitalized as part of the initial amount assigned to right-of-use asset, identifiable payments to cover taxes, insurance and...

A contingent liability a) definitely exists as a liability but its amount and due date are indeterminable b) is accrued even though not reasonably estimated c) is not disclosed in the financial...

Hi, I need help with this document. It is due 06/06/2017 11:59, Please help me! Project Six: Acquisition Contingencies Background In 2011, a construction materials manufacturing company (Construct)...

pls i need help with the samsung wiley Annual Report Project only the other 4 Attachment is a guideline telling you what need to be done.pls see the attached Apple company wiley Annual Report ANNUAL...

ACC/291 Principles of Accounting II - Discussion Questions [This isn't an essay] Discussion on this Learning Activity: Week 2 Electronic Reserve Readings Wk2 DQ#6 - Liability Why is the definition of...

Stock redemption is generally treated as an exchange, in which the stockholders give up their stock in exchange for cash or property. However, the Internal Revenue Code (IRC) does provide...

How do you solve problem number 78? Chapter 06 Accounting for General Long-term Liabilities and Debt Service True / False Questions 1. General long-term liabilities are those that arise from the...

Assignment #1 Directions: Read and answer the questions below.This assignment is to be completed in two steps.Step One of the assignment is due on October 7, 2021, before class.For Step One, you are...

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Speaker _________________________________________Topic __________________________________ What is the audience for this speech?...

Write a paper on Anne Bradstreet's poem," the four elements.

Two vehicles with the same wheelbase but different CG heights will experience the same pitch moment under the same acceleration. Select one: True False

Hello, I have a programming assignment I need finished later this week. I don't have the time to get to it so I was hoping to find someone to help me with this. The program needs to be in MASM and...