With a 60-day 3000 note bearing 5 annual interest. A provision is a liability of uncertain timing or amount. What Is A Contingent Liability Accounting Questions Answered The liability is probable and estimated to be 40000. . A past event has occurred but the amount of the present obligation if any cannot yet be determined. The outcome is probable and the potential liability can be estimated. To record a potential or contingent liability in the financial statements it needs to clear two basic criteria based on the probability of occurrence and its related value as discussed below. Other examples include guarantees on debts liquidated damages outstanding lawsuits. If the liability is likely to occur and the amount can be reasonably estimated the liability should be recorded in the accounting records. Replaced a 3000 account payable balance to Fiona Co. The liability may be a legal obligation or a constructiv...
He took part in ceaseless battles forced his people to construct endless projects and raped any woman he fancied. More books than SparkNotes. The Epic Of Gilgamesh Pulkit Agrawal Literature 114 Spring 2014 2015 Harvard Wiki The right answer is A because it said that the significance of the epic of gilgamesh is that the classic epic and a source of. . These myths and stories finally culminated in the Epic of Gilgamesh. Gilgamesh shows that he is a courageous leader and a strong warrior. The Epic of Gilgamesh describes a short story of the hero king of the earliest Mesopotamia. The Epic of Gilgamesh describe the setting inthe epic of gilgamesh. The hero must embark on a journey or quest in order to discover who he is. It is a source of information on the decline of sumer and the rise of the assyrians. Enkidu looks much like Gilgamesh and is almost his physical equal. It narrates how Gilgamesh meets with gods...
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