Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. asian llc is facing 25 legal claims all related to

Asian LLC is facing 25 legal claims all related to the same issue, each of...

50.1K

Verified Solution

Question

Accounting

Asian LLC is facing 25 legal claims all related to the same issue, each of which has a 45% likelihood of successful outcome (i.e., no payment to be made by Asian LLC) and a 55% likelihood of unfavorable outcome, with each adverse claim expected to result in an outflow of OMR 100,000. Management has calculated the amount to be recognized as a provision in the annual financial statements. Which of the following is the correct amount?

a- OMR 1,125,000

b- None of them

c- OMR 1,375,000

d- OMR 55,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Describe the basic structure of the coronavirus, SARS-CoV2. What is the difference between SARS-CoV2 and COVID-19? How...

Biology
1.2K views

What group of microorganisms do not usually call the skin home?SpirochetesMicrococciStaphylococciCorynebacterium

Biology
1.2K views

Which two systems of a rabbit s body must be working together for the rabbit...

Biology
1.2K views

complete the following sentence This was I have ever seen him behave in the face...

Physics
1.2K views

95 Three hodies A B and C are projected with the same initial speed with...

Physics
1.2K views

Which of the following is not an assumption of kinetic theory of gases The volume...

Basic Math
1.2K views

Suppose that the function g is defined as follows.g(x) =-3 if -3.5

Calculus
1.2K views

e cos 0 Need Help Submit Answer 0 1 Points X 35 Read It DETAILS...

Accounting
1.2K views

What are the four dimensions of a balance scoreboard? What does each dimension represent?

Accounting
1.2K views

For its top managers, Global Travel formats its income statement as follows: (Click the...

Accounting
1.2K views

A company needs $6,300,000 in 8 years in order to expand their factory. How much...

Finance
1.2K views

Noe Drilling Inc. is considering Projects S and L, whose cash flows are shown below....