In order for a liability to exist,
a. there must be a past transaction or event.
b. the exact amount must be known.
c. the identity of the party to whom the liability is owed must be known.
d. there must be an obligation to pay cash in the future.
A
You might also like to view...
Which of the following is the date on which a company determines the owners of the stock that will receive a dividend?
a. date of record b. measurement date c. date of declaration d. date of payment
Because the acceptable rate of accuracy is 70% among Internet journalists, dealing with the media has grown increasingly challenging
Indicate whether the statement is true or false
The Taft-Hartley Act covers most private-sector employers and nonmanagerial employees, except railroad and airline employees. Why?
What will be an ideal response?
If one U.S. dollar buys 0.61 euro, how many dollars can you purchase for one euro?
A. 1.5574 B. 1.4262 C. 1.6393 D. 1.2623 E. 1.4590