An obligation that involves an existing condition for which the outcome is not known with certainty and depends on some event that will occur in the future is call a(n)_____________
Fill in the blank(s) with correct word
contingent liability
contingent loss
You might also like to view...
What are the three main functions of COSO ERM?
What will be an ideal response?
Overland, Inc had 150,000 shares of common stock issued and outstanding at December 31 . 2013 . On July 1 . 2014, an additional 25,000 shares of common stock were issued for cash. Overland also had unexercised stock options to purchase 20,000 shares of common stock at $15 per share outstanding at the beginning and end of 2014 . The market price of Overland's common stock was $20 throughout 2014
What number of shares should be used in computing diluted earnings per share for the year ended December 31 . 2014? a. 182,500 b. 180,000 c. 167,500 d. 177,500
A company has $120,000 in current assets; $600,000 in total assets; $90,000 in current liabilities, and $140,000 in total liabilities. Calculate the current ratio of the company. (Round your answer to two decimals.)
A) 1.33 B) 1.71 C) 1.75 D) 0.86
Carol enters into a contract to hire Joanne to paint a portrait of Carol's favorite cat. Joanne agrees to do the portrait to Carol's satisfaction for $100. When Joanne finishes the portrait, Carol announces that she is not satisfied with the portrait because it does not look like her cat. Carol A) must accept the portrait and pay Joanne $100
B) mustaccept the portrait and pay Joanne $50. C) mustaccept the portrait and pay Joanne $25. D) does not have to accept the portrait or pay Joanne any money.