Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc corporation is in dire need of cash, their ban

ABC Corporation is in dire need of cash, their bankers, CITI Bank, notify them that...

80.2K

Verified Solution

Question

Accounting

ABC Corporation is in dire need of cash, their bankers, CITI Bank, notify them that the only way for them to borrow cash is by leaving a building owned by ABC as collateral. The management shows this property on their balance sheet as a long term asset. They are violating the following management assertion

Completeness

Existence

None of the above

Occurrence

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Kim Inc. must install a new air conditioning unit in its main plant. Kim must install...

Finance
Q

Current Events Using a contemporary or current event (within the past five years), locate an intercultural business situation...

General Management
Q

QUESTION 7 up by 30 of his cost Calculate the selling price A retailer buys...

Basic Math
Q

21 Fill in the blanks to find the values of the acute angles in the...

Basic Math
Q

places 64 6 28 36 4 8 8 15 49 2 63 6 57 4...

Statistics
Q

Consider the following graph on the interval 270 x 105 270 240 210 180 150...

Calculus
Q

16 tan 120

Calculus
Q

The following sales have been budgeted for Party Company: April...$120,000 May$100,000 June....$110,000 Party Companys has...

Accounting
Q

Can someone help me to understand how to answer this particular multi choices questions regarding...

Accounting
Q

The following information is available for Sarasota's Chocolates: 2.900 boxes 3,330 boxes Actual production Budgeted...

Accounting
Q

Describe the marketing mix for your cafe

Accounting
Q

Description of transaction June 1: Hudson Bloom invested...

Accounting