Financial Accounting 8th Edition
Financial Accounting 8th Edition
8th Edition
ISBN: 9781119210818
Author: Kimmel, Weygandt, Kieso
Publisher: WILEY
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Chapter 10, Problem 10.19E
To determine

Contingencies

Contingencies are referred to as the undefined future events that may be turn out to be the possible liabilities for the organizations in fore coming period. Examples of contingent liabilities are law suits, environmental cleanup obligations, and warranties for products.

To Explain: Why the Company does not have to record these contingent liabilities.

To determine

To Comment: If any implications for analysis of the financial statements.

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Chapter 10 Solutions

Financial Accounting 8th Edition

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