A contingent liability is a liability that may materialize in the future because of something that happened in the past
Indicate whether the statement is true or false
True
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Ranier Parts Company has a return on assets of 12% and a return on common stockholders' equity of 15%. What causes the difference in the two returns?
The accrual basis does not match the cost of the efforts required to generate inflows with the inflows themselves
Indicate whether the statement is true or false
What is the responsibility of an employer for torts of employees that are committed in the course and scope of employment?
a. Abuse of process b. Respondeat superior c. Negligence d. Strictliability
Which of the following statements is false concerning air pollution control?
A) Mobile sources of air pollution include industrial plant, oil refineries, and public utilities. B) The Environmental protection Agency enforces the provisions of the Clean Air Act. C) The Clean Air Act was enacted in 1963 to assist states in dealing with air pollution. D) The Clean Air Act authorizes the EPA to regulate air pollution caused by fuel and fuel additives.