Which of the following types of matters do not generally require disclosure in the financial statements?
A. Loss contingencies.
B. General risk contingencies.
C. Commitments.
D. Liabilities to related parties.
Answer: B
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Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $270,000 and accumulated depreciation of $135,000. The new sailboat had an invoice price of $282,000. Hunter received a trade in allowance of $147,000 on the old sailboat, which meant the company paid $135,000 in addition to the old sailboat to acquire the new sailboat. If this transaction has commercial substance, what amount of gain or loss should be recorded on this exchange?
A. $135,000 loss B. $147,000 gain C. $12,000 loss D. $12,000 gain E. $0 gain or loss
To achieve ______ to its environment, the organization must arrive at some basic shared assumptions about its mission and strategy, about the goals, tasks, and methods the organization needs to achieve, and about ways of managing both success and failure.
A. environmental diversification B. internal integration C. macro diversification D. external adaptation
Which of the following is the best example of a nondurable good?
A) a dishwasher B) a book shelf C) a freezer D) a newspaper E) a file cabinet
A message such as “Please copy this document” is a simple message and therefore ______.
a. must be offered orally b. needs minimal planning c. should be offered in written and oral form d. might be misinterpreted