Explain how to account for a contingent liability

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Questions -

Q1. Explain how to account for a contingent liability.

Q2. A board of directors may declare a cash dividend or a share dividend. Explain the difference and give one reason for each.

Q3. Explain why establishing an allowance for bad debts satisfies the matching principle.

Q4. Explain the meaning of profitability and efficiency.

Reference no: EM132521005

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