Under what conditions should a pending lawsuit be recognized in a company's financial statements? Under what conditions should the lawsuit be disclosed in the notes to the financial statements?
What will be an ideal response?
A pending lawsuit should be recognized in a company's financial statements if the outcome is deemed to be probable, and if its amount can be reasonably estimated. The lawsuit should be disclosed in the notes to the financial statements if the outcome is reasonably possible, or, if probable but the amount cannot be reasonably estimated.
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The practice of hiring relatives is known as
A. family-based hiring. B. inverted familial diversification. C. re-recruiting. D. nepotism.
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Answer the following statement true (T) or false (F)
Which of the following statements about Foursquare is not true?
A) Foursquare combines a social network business model with location-based technology. B) Foursquare began operating without a revenue model. C) Foursquare's business model faces significant intellectual property concerns. D) Foursquare has been able to command a high valuation from venture capital investors despite unimpressive revenue and profits.