An obligating event is A. A past event that leads to a present obligation B. An event
Question:
An obligating event is
A. A past event that leads to a present obligation
B. An event that creates a legal obligation
C. A liability of uncertain timing, or amount
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
A A past ...View the full answer
Answered By
Anum Naz
Lecturer and researcher with 10+ years of experience teaching courses in both undergraduate and postgraduate levels. Supervised 17 BA theses, 07 MA theses, and 1 Ph.D. dissertations. Edited and co-authored 2 monographs on contemporary trends in political thought. Published over articles in peer-reviewed journals.
4.80+
11+ Reviews
52+ Question Solved
Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
Question Posted:
Students also viewed these Business questions
-
The purpose of this activity is to expose students to the varying treatment of specific items under U.S. GAAP versus IFRS. This activity will focus on accounting for current liabilities and...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S. GAAP, both, or neither by checking the appropriate box. Acceptable Under IFRS U.S. GAAP...
-
The following are the major balance sheet classifications: Current assets (CA) Current liabilities (CL) Long-term investments (LTI) Long-term liabilities (LTL) Property, plant, and equipment (PPE)...
-
Do cash flows from operating activities report all the elements of the income statement on a cash basis? Explain.
-
Suppose that 600 thirty-year-olds were surveyed to determine whether or not there is a relationship between the level of education an individual has and salary. Conduct a test of independence. Annual...
-
14-2. What are the seven website design elements that companies use to produce a customer experience?
-
The Query Corporation employs the individuals listed in Figure 8-19. Use Access or another DBMS required by your instructor to create a database of this information and then perform the following...
-
! Required information [The following information applies to the questions displayed below.) The following information is departmental cost allocation with two service departments and two production...
-
Gains from the expected disposal of assets should A. Be taken into consideration in measuring a provision B. Not be taken into account in measuring a provision C. Be taken into account in measuring a...
-
A provision should be recognised A. For a future obligation B. For a present obligation C. For a future event
-
In Exercises use logarithmic differentiation to find dy/dx. y = x(x + 1)(x + 2), x > 0
-
Year 5% 6% 4 3.546 3.465 5 7% 3.387 3.312 4.329 4.212 4.100 8% 3.993 5.076 4.917 4.767 4.623 Present Value of an Annuity of $1 at Compound Interest 9% 10% 11% 12% 13% 14% 15% 3.240 3.170 3.102 3.037...
-
2. Determine the overturning stability of the cantilever retaining wall shown. The equivalent fluid density is 5.5 kN/m, soil density is 18 kN/m, and the concrete weighs 23.5 kN/m. (5 pts) 2 m 2 m 2...
-
A. For a certain two-dimensional, incompressible flow field the velocity component in the y direction is given by v = 3xy + xy 1. (05 pts) Short answer, what is the condition for this flow field to...
-
Cho0se a hazardous material to cr3ate a pr3sentation on (i.e. sulfuric acid, explosives, used needles, there are many types of hazardous materials) Cr3ate a presentation (P0werPoint, Open0ffice...
-
If det [a b] = c d 2 -2 0 a. det c+1 -1 2a d-2 2 2b -2 calculate:
-
The comparative financial statements of Sopa Company for 2014, 2013, and 2012 included the following selected data: Required 1. Compute these ratios for 2014 and 2013: a. Current ratio b. Acid-test...
-
Archangel Corporation prepared the following variance report. Instructions Fill in the appropriate amounts or letters for the question marks in the report. ARCHANGEL CORPORATION Variance...
-
The Internal Revenue Code is the most authoritative source of income tax law. In trying to resolve an income tax question, however, a tax researcher also consults administrative rulings (Income Tax...
-
Congressional committee reports are an important source of information concerning the legislative enactment of tax law. a. Name the three Congressional committee reports that are issued in connection...
-
What is the primary service function provided by the National Office of the IRS?
-
Pedro lives in Puerto Rico and had a net taxable income of $35,000 for the year 20X1. Your gross income totals $60,000. What is Pedro's regular income tax for 20X1? a.$4,620 b.$4,900 c.$2,318 d.$2,520
-
The change in cash is equal to the change in liabilities less the change in equity plus the change in noncash assets. O True False
-
Tom holds a 5-yr 10%-coupon bond, while his friend Jackson holds a 6- year 8%-coupon bond. They are both concerned about interest rate risk but they do not fully understand how it affects them. Can...
Study smarter with the SolutionInn App