amistre64
  • amistre64
something odd in accounting class today ....
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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amistre64
  • amistre64
lets say it probable that you will be liable for an amount between: 8 000 000 and 1 400 000 ; what amount would you place on the books to record this?
amistre64
  • amistre64
in another scenario; lets say that you are liable for 6 000 000, and have insurance that will cover 9 000 000, with a 500 000 dedeuctable; what amount would you place on the books to record this?
amistre64
  • amistre64
for the first case: i said, 1 400 000 to be conservative ... cover your "retrices"; but the correct answer is: 8 000 000, the lower of the two for the second case: i said 500 000 since youve got insurance to cover it; but the correct answer was the 6 000 000, the higher of the two.

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amistre64
  • amistre64
why is it not consistently the higher or lower of the two values ?

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