If management can estimate the amount of loss that will occur due to litigation against the company, and the likelihood of the loss is reasonably possible, a contingent liability should be
A. Disclosed, but not reported as a liability.
B. Reported as a liability, but not disclosed.
C. Disclosed and reported as a liability.
D. Neither disclosed nor reported as a liability.
Answer: A
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Local governments in the United States use ________ to regulate land uses in specific areas to prevent any interference with existing uses by residents or businesses, as well as encourage the preservation of a community's sense of identity.
A. lining B. branding C. zoning D. mapping E. policing
The warm-up questions immediately follow screening questions
Indicate whether the statement is true or false
Which of the following is not true?
a. When management outsources their organization's IT functions, they also outsource responsibility for internal control. b. Once a client firm has outsourced specific IT assets, its performance becomes linked to the vendor's performance. c. IT outsourcing may affect incongruence between a firm's IT strategic planning and its business planning functions. d. The financial justification for IT outsourcing depends upon the vendor achieving economies of scale.
Financial leverage is also known as trading on the equity
Indicate whether the statement is true or false