The statement "Accrued liabilities are obligations for which there is no
external transaction" is FALSE because accrued liabilities are obligations that a company has incurred but has not yet paid for or recorded.
Accrued liabilities, also known as accrued expenses, represent a company's financial obligations that have been incurred but not yet recorded in its financial statements or paid.
They are a result of the accrual accounting method, which requires revenues and expenses to be recognized when they are earned or incurred, rather than when cash is received or paid.
These liabilities typically represent expenses that have been incurred but not yet invoiced or paid, such as wages, interest, or taxes. Although there may not be an external transaction that has occurred (like receiving an invoice), accrued liabilities still represent real obligations that the company is responsible for paying.
Learn more about Accrued liability here:
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Answer:
Thiru Sandeep Saxena, IAS, Additional Chief Secretary to Government, Environment and Forests Department, Government of Tamil Nadu.
Answer:
B. Not likely to have jurisdiction over the case is the correct answer.
Explanation:
In the US, A state court can have jurisdiction over the case in which there is some connection to the state. The majority of civil and criminal cases are handled by the state courts. State courts apply state laws to decide cases. They are common law cases. The state's constitution and legislation's are binding on them, if the need arises they also take the federal court into account. The decisions of the lower courts can be challenged in high courts.
A rise in demand happens too quickly for producers to increase production to keep up.
A breakthrough in productive technology enables a company to increase its output.
There's a sudden increase in the number of companies competing to sell the good.
i think b