Watch the following NBC video about Starbucks being sued for $5m over the amount of ice in
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Question:
Watch the following NBC video about Starbucks being sued for $5m over the amount of ice in iced drinks and then answer the following questions. Also, respond to a post made by one of your peers.
In which cases would Starbucks recognize a liability, disclose a contingent liability or do nothing about it?
Grading rubric:
Identification of the general accounting principles relating to loss contingencies. | 2 points |
Reference to the related section / page of the textbook. | 0.5 point |
Application of the accounting principles and conclusion. | 2 points |
Constructive response to a peer's post | 0.5 point |
Your post should not exceed 15 lines (about 250 words) and should focus only on the accounting principles relevant to the scenario. Include the following titles in your post:
- a). Relevant accounting principles
- b). Reference
- c). Application and conclusion
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Posted Date: