Satarn, Inc often does business with Scorpeo, Inc Recently, the two corporations had a minor dispute. However, they wish to continue doing business with one another for which their relationship should be preserved
They came to an agreement that whatever transpires during the resolution process should be confidential. Which of the following dispute resolution methods should they choose?
A) litigation
B) mediation
C) arbitration
D) summary jury trials
B
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Danbury Corporation was involved in a lawsuit with the EPA alleging inadequate air pollution control facilities at its Lafayette plant site during 2011 . At December 31 . 2014, it appeared probable that the EPA would settle for approximately $150,000 . This event should be recognized in 2014 as a(n)
a. extraordinary loss. b. disclosure of a contingency loss only in a note. c. should not be disclosed or recognized.. d. loss on the lawsuit (operating expense).
Which of the following accounts would be closed at the end of the accounting period with a debit?
A. Operating Expenses. B. Cost of Goods Sold. C. Sales. D. Sales Discounts. E. Sales Returns and Allowances.
Discuss the circumstances under which the inductive approach to writing a bad-news message can be disregarded