How should a contingent liability be reported in the financial statements when it is "reasonably possible" the company will have to pay the liability at a future date?
a. As a deferred liability
b. As an accrued liability
c. As a disclosure only
d. As an account payable with an additional disclosure explaining the nature of the transaction
C
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In a statement of cash flows using the indirect method, which of the following events would not be classified as an operating activity?
A) a gain from sale of equipment B) ?the receipt of a cash dividend C) proceeds from the issuance of bonds D) interest expense paid on a loan
Which assessment tool listed below is used to determine an organization’s success in accomplishing its mission?
A. outcomes B. financial ratios C. peer evaluation D. cost–benefit analysis
In a manufacturing company, the cost of direct materials, direct labor, and overhead will most likely become a part of the Cost of Goods Sold account balance
Indicate whether the statement is true or false
Which of the following is probably NOT a part of a situation analysis?
A. A marketing analyst looks in the Index of Business Periodicals for articles about a large retail chain. B. A marketing analyst determines from a Census publication how many manufacturers are in the Portland area. C. A computer company asks ten lawyers to participate in a focus group on how they use the Internet. D. A marketing manager asks a radio station for a copy of an audience study.