Swell Company has a lawsuit pending from a customer claiming damages of $100,000. Swell's attorney advises that the likelihood the customer will win is remote. GAAP requires at a minimum that this contingent liability be
A. disclosed in the footnotes.
B. disclosed in the footnotes, with ranges of potential loss.
C. recorded as a journal entry, as well as disclosed in the footnotes.
D. No disclosure is required
Ans: D. No disclosure is required
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Malcolm Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm
He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use? A) gender segmentation B) psychographic segmentation C) occasion segmentation D) geographic segmentation E) age and life-cycle segmentation
Which statement on MRP explosion is BEST?
A) It calculates the total number of subassemblies, components, and raw materials needed for each parent item. B) It calculates the total number of raw materials to be purchased from all suppliers. C) It calculates the total number of parts to be produced for each parent item. D) It calculates the total number of parts needed to be produced less the number of parts on hand for each parent item.