Material Detail

How would Kraft account for the contingent liability arising from a class action lawsuit alleging that it takes more than the advertised 3 ½ minutes to prepare Velveeta Microwaveable Shells & Cheese cups?

This is a case study about a contingent liability that may potentially occur due to a lawsuit. Students could apply knowledge of contingent liabilities to this real-world case with a highly familiar item.

Keywords:: contingent liability, lawsuit, contingencies, contingent liabilities, teaching accounting, financial accounting

Disciplines:

Business / Accounting / Financial

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More about this material

Material Type:: Case Study
Date Added to MERLOT:: December 4, 2022
Date Modified in MERLOT:: December 4, 2022
Author:: Unknown (Know the author?)
Submitter:: Jeanette Landin
Primary Audience:: College Lower Division, College Upper Division
Technical Format:: Document (e.g. Word), Website

Mobile Compatibility:: Not specified at this time
Technical Requirements:: Internet browser
Language:: English
Cost Involved:: No
Source Code Available:: Yes
Creative Commons:: No

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