Lowe's Would Primarily Be Considered A

question 150

Multiple Choice

Lowe's would primarily be considered a:

• A)manufacturing business.
• B)merchandising business.
• C)service business.
• D)not-for-profit business.

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Definitions:

Contingencies

Conditional liabilities or assets that may arise due to future events, whose effects cannot be determined with certainty at the present time.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific time, showing assets, liabilities, and equity.

Lawsuit Loss

Financial damages that a company is required to pay as the result of legal judgment or settlement of a lawsuit.

Probable Loss

An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.