Analyze the Following Independent Situations

question 83

Essay

Analyze the following independent situations.
Required: For each situation,state the likelihood of a future event and state how the contingency will be reported.
a.Company A estimates it will have to pay $85,000 in warranty repairs next year.
b.Company B is being sued by a customer.Company B's attorneys feel that this is a frivolous lawsuit and there is very little chance that the customer will win.
c.Company C co-signed a note payable for Company D.Company D is having serious financial problems and it is reasonably possible that Company C will have to pay the note.
d.Company E is being sued for a patent infringement.Company E's attorney feels that Company E will be found liable for damages caused by the patent infringement.However,the attorney states it is not possible to estimate the amount of the award.

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Definitions:

Abraham Maslow

An American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Personality

The combination of emotional, attitudinal, and behavioral response patterns of an individual that is distinct across people.

Humanist

An individual who adopts a worldview emphasizing the value and agency of human beings, individually and collectively, often in contrast to religious or supernatural beliefs.

Unconscious Conflicts

Internal struggles within an individual's subconscious mind often resulting from repressed feelings or thoughts that manifest in various psychological symptoms.