Robo Corporation entered into noncancelable, long-term material contracts with suppliers for the purchase of raw materials beginning in the calendar Year 4 . These contracts amounted to $500,000 at December 31, Year 4, relating to raw materials with a market price of $575,000 . This amount was considered material for Robo. (CMA adapted, Dec 95 #16) Refer to the Robo Corporation example. Robo
Corporation's financial statements at December 31, Year 4,
a. include a contingent liability of $500,000.
b. disclose the purchase commitment.
c. include a liability of $575,000.
d. do not mention this commitment.
e. none of the above.
B
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Billy told his boss, Gwen, that he is going to start training for the upcoming marathon to be healthier and to have more energy for work. When Gwen asked him about his running history, Billy said, "I really have never run before and don't exercise much. I just know I need to do something." Gwen told Billy, "You should start slowly, maybe setting smaller, realistic exercise goals that are achievable." Gwen is helping Billy set a
A. single-use plan. B. SMART goal. C. standing plan. D. simplistic goal. E. focal point.
Which of the following activities might you consider adding a time buffer to?
A. Merge activities that are prone to delays B. Activities with severe risks C. Noncritical activities with very little slack D. You might consider adding a time buffer to any of these activities E. Activities with scarce resources
Retailers can use price as an adaptive mechanism with price adjustments
Indicate whether the statement is true or false
The legal environment affecting labor relations includes all of the following except:
A. monetary policy. B. common law. C. bankruptcy codes. D. deregulation.