Discuss the 2 primary differences between assets on the balance sheet.

There are 3 contingent liability categories specified in generally acceptable accounting principles (GAAP): probable, possible, and remote. In general, probable contingencies are more likely to occur and can be reasonably appraised. Possible contingencies are less likely to occur, but could still occur. Remote contingencies are not likely to occur.

Respond to the following in a minimum of 175 words:

  • Discuss the 2 primary differences between assets on the balance sheet.
  • Discuss reporting requirements for contingencies.
  • Explain 2 contingent liability examples.
Discuss 3 different types of business leases and their merit

A lease is an arrangement under which a lessor agrees to allow a lessee to control the use of identified property, plant, or equipment for a stated time period in exchange for 1 or more payments. There are several types of lease designations, and they differ if an entity is the lessee or the lessor. For a lessee, a lease can be designated as either a finance lease or an operating lease.

Respond to the following in a minimum of 175 words:

  • Discuss 3 different types of business leases and their merit.
When companies that sell coffee they develop their marketing strategy, do they concentrate on satisfying their customers’ needs or wants?

When companies that sell coffee they develop their marketing strategy, do they concentrate on satisfying their customers’ needs or wants? What about a utility company, such as the local power company? A humanitarian agency, such as Doctors without Borders? Critically examine based on the concepts of needs and wants discussed.