help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / In the accounting records of a defendant, lawsuits: Are estimated liabilities Should always be recorded Should always be disclosed Should be recorded if payment for damages is probably and the amount can be reasonably estimated Should never be recorded

In the accounting records of a defendant, lawsuits: Are estimated liabilities Should always be recorded Should always be disclosed Should be recorded if payment for damages is probably and the amount can be reasonably estimated Should never be recorded

Finance

In the accounting records of a defendant, lawsuits:

    1. Are estimated liabilities
    2. Should always be recorded
    3. Should always be disclosed
    4. Should be recorded if payment for damages is probably and the amount can be reasonably estimated
    5. Should never be recorded

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Answer:

d . Should be recorded if payment for damages is probably and the amount can be reasonably estimated

Step-by-Step explanation

Accounting entry for the defendants must be recorded if amount of damages and its payment is reasonably estimated. Without the probability of its payment the firm should not enter the amount in the books.

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)