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These should be distinguished from estimated liabilities. Estimated liabilities are identified liabilities where the amount is uncertain. Contingent liabilities conversely are not liabilities at the current moment. They may turn into liabilities only on the happening of a specific event. Conversely, both the amount and the liability or obligation is uncertain till the specified event occurs in future. These may comprise items as a claim against the company contested in a court. Merely if the court offers an unfavourable verdict, it turns into a liability. They are not listed as liabilities in the body of the balance sheet. Though, if the firm wishes, this may make same provision for the same.
what is the procedure of purchase of materials in large organisation?
Nieland Industries had one patent recorded on its books as of January 1, 2014. This patent had a book value of $288,000 and a remaining useful life of 8 years. During 2014, Nieland
Weighted Average Method This way is a perpetual weighted average system whereas the issue price is recalculated after one of receipt of stocks taking into accounts both money
Multiple Products, Selling Costs, and Margin Management Selling charge are oftentimes variable. For instance, a salesperson can be paid a designated percentage of entire sales
The Federal Reserve adjusts short term interest rates based upon their perceptions of the needs in the economy. Please describe the ways the Federal Reserve can influence interest
What are the strengths and weaknesses of the various costing methods and which would you recommend for a manufacturing enterpris? 2000word assay plus appendix
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The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not
What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what ty
what is the importance and assumptions of application of marginal costing
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