What type of liabilities are these called

Assignment Help Accounting Basics
Reference no: EM13120206

There are situations wherein a company faces a potential liability, but is not certain of all of the details associated with such potential liabilities.

What type of liabilities are these called? Discuss the guidelines for handling these types of liabilities.

Do you agree with how these are handled? If yes, then why? If not, then what would you recommend FASB do differently?

Should potential gains be treated identically to potential liabilities, why or why not?

Provide specific details to support your opinion in your response.

Reference no: EM13120206

Questions Cloud

What is the pressure in the airplane : In an airplane, a gas sample occurs at a volume of 1.5 L at 760.0 torr. Suppose, while flying, the airplane loses pressure and the volume of the gas increases to 11.40 L.
Define central limit theorem : The number of hours a light bulb burns before failing varies from bulb to bulb. The distribution of burnout times is strongly skewed to the right. The central limit theorem says that
Find what is the probability of p yellow or green : In a bag there are 2 red, 3 yellow, 4 green, and 6 blue marbles. What is the probability of P (yellow or green)? Choose the best answer from the options below
Find the specific heat of gold : when a 50.0-g nugget of pure gold is heated from 35.0 C to 50.o C, it absorbed 5200.0J of energy. find the specific heat of gold.
What type of liabilities are these called : There are situations wherein a company faces a potential liability, but is not certain of all of the details associated with such potential liabilities.
Find proportion of employees who have mba : Company have MBA degrees. Also, 64 percent of the managers have MBA degrees. Using the probability formulas, find the proportion of employees who either have MBAs or are managers.
Illustrate what minimum speed will allow the ball to clear : Illustrate what minimum speed will allow the ball to clear the roof?at what angle should the ball be tossed. (in picture at roof starts at 3m and the angle of the roof there is 45degrees
Retail sales - neckwarmers : Neckwarmers. Mountainside Fleece sold 40 Neckwarmers. Solid-color neckwarmers sold for $9.90 each and print ones sold for $12.75 each.
Purchase price in the consolidated financial statement : How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2011?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Constant growth dividend discount model

If a stock has a constant growth rate of 6% per year and paid a dividend of $5.00 yesterday, what is the value of the stock if the discount rate is 10%?

  Pension plans-overtime pay-basic wages

What are four safeguards that the ERISA legislation specified to address the many obstacles employees faced with pension plan funding? How did the Pension Protection Act add additional requirements to the protection of these plans?

  Identify long-term factors

MBA 640 Exam 1: Spring 1, 2014:  Determine whether Deep Blue should accept this special sales order. Identify long-term factors Deep Blue should consider in deciding whether to accept the special sales order.

  Prepare journal entry to record sale of lathe

Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.

  What are the elements of negligence

What are the elements of negligence? How does an intentional tort differ from negligence? Provide examples. How does the strict liability doctrine apply to the practice of accounting? Provide examples.

  Role of financial institutions or derivative

Provide an example of financial institutions, and state what role they play in securities markets.

  Lbj company internal control

Explain the impact on internal controls if a company decides to "go public." What is the company doing right? Should they buy the indelible ink machine? What is the company is doing wrong? Make recommendations for improvement. Be sure to reference th..

  Prepare an anti-aging drug

Godert pharmaceutical company has several scientists working in the labs trying to prepare an anti-aging drug. The cost of this research and development

  Gain and net reduction in retained earnings

Pierson Corporation owned 10,000 shares of Hunter Corporation. These shares were purchased in 2007 for $90,000. On November 15, 2011, Pierson declared a property dividend of one share of Hunter for every 10 shares of Pierson held by a stockholder.

  Causes of high degree of operating leverage

What conditions/factors cause a business to have a high degree of operating leverage as compared to others?

  Compute the proper earnings per share for 2010

During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%., Instructions:- Compute the proper earnings per share for 2010.

  Information about horizontal analysis

Comparative information taken from the Fogerty Company financial statements is shown below 2007 2006-Using horizontal analysis, show the percentage change from 2006 to 2007 with 2006 as the base year.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd