Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. hello, can you quickly help me which accounting pr

Hello, Can you quickly help me which Accounting principles in these 4 sentences 1. Recording...

80.2K

Verified Solution

Question

Accounting

Hello, Can you quickly help me which Accounting principles in these 4 sentences

1. Recording Goodwill at the time of purchasing another entity.

2. Recording Warranty expense, for a 2 year warranty product, in the year the products are sold.

3. This is the underlying principle for the use of Accrual accounting and historical cost.

4. The company decides not to record a large lawsuit Loss on the Income Statement and a Liability on the Balance Sheet although the lawyers feel they will lose the case (Which principles being violated)

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The midterm exam scores obtained by boys and girls in a class are listed in...

Statistics
Q

In a one page paragraph format, describe Richard Nixon from the viewpoint of Personal Construct Theory...

Psychology
Q

Does the sign of the charge of an elementary particle, like an electron or proton, is...

Physics
Q

Question 5 Points 2 Which of the following transformations creates a figure that is similar...

Geometry
Q

Given the following characteristics select the function family that is described Shape single curve End...

Geometry
Q

More on Polynomials Question 5 Which statement is true about the function shown here Select...

Basic Math
Q

During 2024, its first year of operations, Hollis Industries recorded sales...

Accounting
Q

Almost all current liabilities affect the operating category of the statement of cash flows, but...

Accounting
Q

Analysis of receivables method At the end of the current year, Accounts Receivable has a...

Accounting
Q

7. Bar code scanner S7-3 Identifying special journals Use the followi transactions a through n....

Accounting
Q

1. with supported by relevant research literatures and quantitative data, critically discuss 3 reasons why...

Finance
Q

Peavey Enses purchased a depreciate asset for $25.000 on April Year The asset will be...

Accounting