Oman Chips company have noticed that the demand of their products increased in last few quarters. The company has decided to establish one production facility in Dhank, which will not only cover the demand of Al Dhahira region but also Al Buriami and some parts of Al Dakhiliya. The company purchased a land by using a significant amount and started constructing building and brought plant and machinery. During this whole process, one day they received a letter from public prosecution that this land is controversial and nothing can be done here. Now the case is in high court and it is expected that the company may lose this case. Now it is the responsibility of the company to _____________________. a. Disclose this issue in the annual meeting to come up with more ideas b. Disclose this information as it has a major impact on the balance sheet c. Show all information in their upcoming journal so that investor can get ideas d. None of the options
Oman Chips company have noticed that the demand of their products increased in last few quarters. The company has decided to establish one production facility in Dhank, which will not only cover the demand of Al Dhahira region but also Al Buriami and some parts of Al Dakhiliya. The company purchased a land by using a significant amount and started constructing building and brought plant and machinery. During this whole process, one day they received a letter from public prosecution that this land is controversial and nothing can be done here. Now the case is in high court and it is expected that the company may lose this case. Now it is the responsibility of the company to _____________________. a. Disclose this issue in the annual meeting to come up with more ideas b. Disclose this information as it has a major impact on the balance sheet c. Show all information in their upcoming journal so that investor can get ideas d. None of the options
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Oman Chips company have noticed that the demand of their products increased in last few quarters. The company has decided to establish one production facility in Dhank, which will not only cover the demand of Al Dhahira region but also Al Buriami and some parts of Al Dakhiliya. The company purchased a land by using a significant amount and started constructing building and brought plant and machinery. During this whole process, one day they received a letter from public prosecution that this land is controversial and nothing can be done here. Now the case is in high court and it is expected that the company may lose this case. Now it is the responsibility of the company to _____________________.
a.
Disclose this issue in the annual meeting to come up with more ideas
b.
Disclose this information as it has a major impact on the balance sheet
c.
Show all information in their upcoming journal so that investor can get ideas
d.
None of the options
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