If Gil assigns his lease to Jim, Gil has no further obligations to his landlord
Indicate whether the statement is true or false
False
You might also like to view...
Fisher Company has been named as the defendant in a class action lawsuit. In addition, the company is located in a region that normally has an active hurricane season. Indicate whether each of the following statements is true or false. ________ a) If the likelihood of a future obligation is probable and can be reasonably estimated, a liability should be recognized on the balance sheet.________ b) If the outcome is probable, but cannot be reasonably estimated, the contingency should be disclosed in the notes to the financial statements.________ c) If the outcome is reasonably possible but not likely, the contingency should be disclosed in the notes to the financial statements.________ d) Every lawsuit, regardless how frivolous, should be disclosed in the notes to the financial
statements.________ e) Since it is located in a region for which an active hurricane season has been predicted, the company must disclose the contingent liability, which is the potential for catastrophic loss, in the notes to their financial statements. What will be an ideal response?
The current dominant assumption in management theory suggests that ________.
A. an organization's success or failure is due to external forces outside managers' control B. managers' roles are increasingly becoming peripheral and staff manage their own areas of expertise C. managers are directly responsible for an organization's success or failure D. managers cannot significantly affect an organization's performance because they are constrained by the abilities of their employees
Groupon offers online coupons for bargains at local shops and restaurants. Which of the following is a reason that rivals are limiting its growth?
A. Not many firms possess the same capability. B. There are few equivalent capabilities. C. Its core capability is easily imitated. D. Its core capability is not easily imitated.
Interim financial statements refer to financial reports:
A. Where the adjustment process is used to assign revenues to the periods in which they are earned and to match expenses with revenues. B. That cover less than one year, usually spanning one, three, or six-month periods. C. Where revenues are reported on the income statement when cash is received and expenses are reported when cash is paid. D. That are prepared before any adjustments have been recorded. E. That show the assets above the liabilities and the liabilities above the equity.