All lawsuits in which a company has been named a defendant should be either disclosed in the company's notes to the financial statements, or recognized as a liability on its balance sheet.
Answer the following statement true (T) or false (F)
False
If the likelihood of a future obligation arising is remote, which might be the case with a frivolous lawsuit, no liability need be recognized in the financial statements or disclosed in the notes to the statements.
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When a system is developed by a software vendor for a wide market rather than for a specific client, conversion often takes place at _____.
A. alpha sites B. gamma sites C. delta sites D. beta sites
Clapton Inc would like to prepare an income statement for March. Their production department records show that total product costs in March were $225,000 when 50,000 units were produced. Their sales department records show that 46,000 units were sold for $16 each. Monthly administrative and marketing expenses totaled $60,000. What should be net operating income for March? (Ignore taxes)
A) $529,000 B) $473,800 C) $451,000 D) $469,000
The main objective of the Employee Retirement Income Security Act of 1974 (ERISA) is to:
a. ensure that employees over the age of 65 will retire b. coordinate Social Security benefits so all recipients collect legal benefits c. promote the growth of private pension plans and guarantee the expectations of those plans d. to regulate state and federal employee retirement plans e. all of the other choices
What is a virtual private cloud? What are its advantages?
What will be an ideal response?