The FASB established the use of the terms "probable," "reasonably possible," and "remote." It adopted these terms because
A) the available statistical techniques are not exact enough.
B) the likelihood of occurrence of future events can vary over a wide range.
C) future gains are not easy to estimate.
D) unnecessary estimates should not be recorded in the financial records.
B
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All of the following are included in the acquisition cost of property, plant, and equipment except:
a. transportation costs b. taxes on the purchase c. installation costs d. maintenance costs
Which of the following statements (with regard to time) is least likely to be important as a core competency for a company?
a. the time (or duration) for which a customer uses the product b. the time to develop a product c. the time to deliver a product d. the time to receive supplies
Mumtaz, Badia and Ilya are partners in a business partnership, called MBI. Mumtaz contributes $15,000 to the business, Badia contributes $10,000 and Ilya contributes $5,000. The partners agree among themselves that they will share partnership profits and losses in proportion to their contributions. In addition, the partnership borrows $30,000 from the bank. The business doesn't work out, and MBI is unable to repay the loan. Mumtaz pays the bank $30,000. How much can she recover from Ilya?
A) nothing B) $5,000 C) $10,000 D) $15,000 E) $30,000
. Stewart (2017) discusses management development agendas, whereby the management development serves as a safety valve for managerial anxieties, and assumes competitive careers and associated anxieties, and is known as ______.
b. compensation a. functional performance c. psychic defense d. political reinforcement