Violation of generally accpted accounting principles

Reference no: EM131041067

True or False?? A certain contingent liability was evaluated at year end; the company felt it was probable that it would become an actual liability, and the amount could be reasonably estimated. if the accountant decided to report it on the balance sheet, this could be considered a violation of generally accpted accounting principles.

Reference no: EM131041067

Questions Cloud

Discusst the potential role of each of the factors listed : In each case, indicate whether the effect is through A, through K, through H, or through some combination of A, K, and H. A is the level of technology, K is the level of capital stock, H is the level of the Hu- man capital stock.

Computing depreciation under alternative methods : Putty Ice Cream Company bought a new ice cream maker at the beginning of the year at a cog,/ 59,000. The estimated useful life was four years, and the residual value was $1,000. Assume that the c; mated productive life of the machine was 16,000 ho..

Determine the maximum and average vertical shear stresses : A simply-supported beam of span 2 m is subjected to a lateral uniformly distributed load of 20 kN/m which causes a maximum vertical shear force of 20 kN at each support. Determine the maximum and average vertical shear stresses within the beam over..

How many of you have a subscription to netflix : How many of you have a subscription to Netflix? What is the value proposition of Netflix? What are the pros and cons of a subscription to Netflix as opposed to regular cable TV service

Violation of generally accpted accounting principles : True or False?? A certain contingent liability was evaluated at year end; the company felt it was probable that it would become an actual liability, and the amount could be reasonably estimated.

Draw the project network and list the earliest start : (a) Draw the project network and list the earliest start (ES), earliest finish (EF), latest start (LS) and latest finish (LF) for each task (b) List the tasks on the critical path (c) What is the expected project duration in weeks?

Which group represents the smallest number of people : Which of the following is the most common and lucrative way for a terrorist organization to acquire financial support?

Use of standards be appropriate in a non-manufacturing : Would the use of standards be appropriate in a non-manufacturing setting,such as a fast-food restaurant?

User Account

All Pages