Decide the case

Q: If you receive a subpoena from a court for your client’s private information, what should you do?…

A: Subpoena is an order made by a court at the request of a party to a court case that requires the…

Q: The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: In order to say that the buyer is insolvent in order for the seller to exercise his right to…

A: The answer and explanation is given is the next step :-

Q: As an accountant at a company that has a business in a disastrous weather area, how should I account…

A: Contingent liabilities refers to the liability which has the likelihood of occuring in future.…

Q: Law Societies provide a complaints resolution process for clients who believe that a lawyer has…

A: Law societies are the independent professional body for the solicitors and they drive the excellence…

Q: comprehensive personal liability (CPL) coverage

A: Personal liability turns up in case of an accident, inside or outside of your house, which leads to…

Q: 1. Under the Statute of Frauds, the following contracts must be in writing, otherwise they cannot be…

A: The statute of fraud is a concept that creates rules related to the contracts. The statute of the…

Q: Many countries have eliminated the Statute of Frauds except for sales of real estate. What is it and…

A: The Statute of Frauds is a legal doctrine that requires certain types of contracts to be in writing…

Q: A court does not have the power to remove a director when: Multiple Choice   petitioned by…

A: Shareholders have the right to remove the directors without going to the court and they do not…

Q: Under the Ultramares rule, to which of the following parties will an accountant be liable for…

A: The ultramares doctrine represents the ordinary negligence for liability to third party. It is…

Q: Boracay wrote a complete promissory note payable to bearer. The note was stolen and his signature…

A: In the given case option d is correct... Boracay is liable to a holder in due course....

Q: Classify the following event as mostly systematic, mostly unsystematic: "A manufacturer loses a…

A: a) For a particular organization or sector, unsystematic risk is special. Often recognized in the…

Q: ted. Does the expected loss meet the definitio

A: Conceptual Framework A conceptual framework is a written or visual representation of how variables…

Q: eans by which a dismissal can be determined to be fair or unfair. In the event of a claim that an…

A: Section 188 of Labour Relations Act No 66 of 1995 specifies that the employer pf a company has the…

Q: An audit client is being sued for $500,000 for discriminatory hiring practices. Indicate the…

A: Auditor is the person who is responsible for performing audit process for the company by checking…

Q: Explain the difference between liquidated damages and penalities

A: Damage refers to the loss that results from some injury to a person, company, property, or…

Q: Is Emily's report in accordance with professional standards? If not, what should she have done under…

A: Unaudited financial statements are those statements which has not been audited by the auditor and…

Q: What did Dennis Kozlowski of Tyco do that was so unethical or illegal in the world of business and…

A: The answer for the question on unethical or illegal doings of Dennis Kozlowski of Tyco is discussed…

Q: he Taxpayer Advocate Service (TAS) can help taxpayers with what type of assistance? As a first step,…

A: A taxpayer is an individual,  reality, or association that's legally obligated to pay  levies to a…

Q: A debt-collection agency can always contact a debtor at his or her place of employment. True False

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: A's cargo ship base was punctured due to rats and so sea water entered and cargo was damaged. Here…

A: Answer :-                                Yes in the given scenario B must paay…

Q: must prove against the defendant under the negligence doctrine of product liability. Is everyone in…

A: PRODUCT LIABILITY: NEGLIGENCE…

Q: Discuss whether the following items would meet the definition of a liability using the criteria…

A: The abbreviation for international financial reporting standards is International Financial…

Q: Wrongful Call insurance is intended to protect the exporter if an importer customer decides that the…

A: The answer is False.

Q: 1. Which of the following is the proper legal remedy to be availed by the buyer if the seller…

A: The following is the proper legal remedy to be availed by the buyer if the seller committed a breach…

Q: 37. Which of the following is accurate with respect to litigation involving CPAs? a. A CPA will not…

A: Litigation involving CPAs can arise from a variety of situations, including alleged negligence,…

Q: 3. 'After winning the match, and about to leave the venue, a burglar runs past being chased by a…

A: Ethics plays a vital role in shaping the way we perceive and act in different situations. In the…

Q: The Saint Louis Corporation is trying to determine whether a liability needs to be recognized in…

A: Before reporting any accounting item in the financial statements of the business, it must be…

Q: consequential damag

A: Civil liability refers to the liability or obligation in legal firm which requires the party to pay…

Q: While conducting a fraud examination, Black, a Certified Fraud Examiner, obtained a document in…

A: The chain of custody is a tracking record that tracks the movement of the evidence from the…

Q: 5. What does Tina mean in her statement to the Clare County Review "the effects of an embezzlement…

A: Understanding and Addressing the Impact of Embezzlement in a Corporate Setting Embezzlement, as…

Q: In reviewing of subsequent events, you learned of heavy damage to the client’s warehouse due to a…

A: An audit opinion is a formal statement issued by an independent auditor expressing their opinion on…

Q: nt is true or false. Tax related fraud is a criminal offence in South Africa. Therefore, it can be…

A: Tax refers to the mandatory charge imposed by the authoritative government over the income gained by…

Q: Gabrielle files a suit against Hard n Fast Adhesives, Inc. Hard n Fast responds that even if…

A: Note: Hi! If you have any questions or if you need additional insights, please feel free to comment…

Q: A person who filed for bankruptcy and was discharged cannot be held criminally liable if later found…

A: Any person who files for bankruptcy and is discharged may still be held criminally liable if, during…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.