ADM 2342 Study Guide - Final Guide: Quick Ratio, Credit Risk, Contingent Liability

• School: University of Ottawa
• Department: Administration
• Course: ADM 2342
• Professor: All

Document Summary

Section: (check one) m (s guin) ___ n (tass )__: all questions including multiple-choice questions must be answered in a separate booklet, please do not ask the professor or the invigilator to explain or interpret questions. Only questions concerning possible errors in the exam will be answered: books and notes are not permitted, programmable calculators are not allowed. Calculators must not be shared: show all supporting calculations clearly where required. Answers will not be marked if written illegibly: language dictionaries are allowed but will be checked. 19 d c b c a b d a d a d b d d c c d c a. A company should recognize a contingent liability as a loss on the income statement and a liability on the balance sheet when: it is likely that the event that gives rise to the obligation will happen && And &: the amount of the obligation can be reasonably estimated &&