Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ruby bhd has been sued by its supplier due to brea

Ruby Bhd has been sued by its supplier due to breach of contract. Discuss whether...

80.2K

Verified Solution

Question

Accounting

Ruby Bhd has been sued by its supplier due to breach of contract. Discuss whether a liability can be recognized assuming that: a) It is probable that Ruby Bhd would be liable for RM500,000 as a result of lawsuit; (2 marks) b) It is not probable that Ruby Bhd would be liable for RM500,000. (2 marks) c) It is probable that Ruby Bhd would be liable, however the legal advisors could not estimate the liability amount reliably.

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

Arrow Furniture is a family-owned and operated manufacturer of high-end furniture located in North Carolina. The...

General Management
Q

In 2006?, there were 11,300 students at college? A, with a projected enrollment increase of 800...

Advance Math
Q

Rentz Corporation is investigating the optimal level of current assets for the coming year. Management expects...

Finance
Q

A dipole having dipole moment p is placed in front of a solid uncharged conducting...

Physics
Q

x 4y20 28 Write expression log logarithms with no exponents Simplify your answer completely 1420...

Basic Math
Q

1 2 12 14 Final Sum Factor each completely 1 16x 36x 70 A 2...

Calculus
Q

Which of the following statements are false or true for a consolidated statement of cash...

Accounting
Q

Joiner Corporation recently purchased 36,000 gallons of direct material at $5.30 per gallon. Usage by...

Accounting
Q

A project's cash flows have a beta of 1.40, a standard deviation of $1,000, and...

Accounting
Q

Exercise 9-6(Algo) Variable Overhead Variances [LO9-6] Logistics Solutions provides order fulfillment services for...

Accounting
Q

Which of the following is an external source of liquidity? Sales of services. Repurchase of...

Accounting
Q

Please answer part c, g, h, k. Thank you. Use the financial statements of...

Finance