Dublin Co. holds a 30% stake in Club Co. which was purchased in 2013 at a cost of $3,000,000. After applying the equity method, the Investment in Club Co. account has a balance of $3,040,000. At December 31, 2013 the fair value of the investment is $3,120,000. Which of the following values is acceptable for Dublin to use in its balance sheet at December 31, 2013?

On a CVP graph, total fixed costs are shown as a horizontal line

Indicate whether the statement is true or false

Which of the following statements is true?

A) One of the essential characteristics of a liability is that the transaction or other event obligating the entity will probably occur in the future. B) In order for there to be a liability, a duty or responsibility must be present that obligates a particular entity. C) In order for there to be a liability, a legally enforceable claim must be present. D) In order to have a liability, the identity of the recipient must be known.