Indicate How Each Event Affects the Financial Statements

question 127

Essay

Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA.You do not need to enter amounts.Increase = I Decrease = D Not Affected = NASierra Mining is the defendant in a $3 million lawsuit involving damage to the environment. Sierra's attorneys have advised the company that the outcome of the lawsuit is probable, and the likely settlement will be $750,000.

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Definitions:

Disability Dysphoria

The distress or dissatisfaction that may occur when an individual's physical or mental disabilities conflict with their desires, ideals, or societal pressures.

Ableism

Discrimination or social prejudice against people with disabilities, valuing able-bodied individuals above those with disabilities.

Asperger's Syndrome

A developmental disorder characterized by significant difficulties in social interaction and nonverbal communication, along with restricted and repetitive patterns of behavior and interests, regarded as a high-functioning form of Autism Spectrum Disorder.

Learning Disabilities

Neurologically-based processing problems that can interfere with learning skills like reading, writing, or math, and can also affect higher-level skills such as organization, time planning, abstract reasoning, long or short term memory, and attention.