Which of the following statements regarding contingencies is true?
a. Contingencies that are probable and estimable must be recorded before the outcome of future events.
b. Contingent assets, if probable and estimable, are treated in much the same way as contingent liabilities.
c. The accounting principle that determines whether a contingent asset is recorded is that of materiality.
d. Contingencies that are not estimable should not be disclosed even if probable.
a
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Canada's Imax Corporation is the world's premier provider of large-format motion picture
projection technology. The company has identified 900 potential markets for new Imax theaters; two-thirds of those are global. Indicate whether the statement is true or false
MPR is an ideal set of tools to reach mainly local audiences
Indicate whether the statement is true or false
In preparing the overhead budget, many companies use:
A) activity-based costing. B) multiple drivers for a simple budget. C) a unit-based driver such as direct labor hours. D) participative costing. E) none of these.
The complexity of an organization is the extent to which it is differentiated along all of the following dimensions EXCEPT:
A. horizontal B. cultural C. spatial D. vertical