Legal Issues Concerning Downsizing Include

question 20

Multiple Choice

Legal issues concerning downsizing include:

• A)the decision to downsize
• B)the manner in which downsizing is implemented
• C)prior notification of downsizing
• D)the decision about which individuals to downsize
• E)all of thes
• F)none of these

---

Definitions:

Completed Contract Method

A financial accounting approach where revenue and expenses of a contract are recorded only when the contract is fully completed.

Long-Term Construction

Projects or contracts that span over a long period, typically larger in scope and complexity which may impact financial reporting due to their duration.

Critical Event

An occurrence that significantly alters the current course of a business or project, potentially impacting financial outcomes or operational capabilities.

Measurability Criteria

Guidelines to determine whether an item can be quantified in monetary terms and thus be included in the financial statements.