Examples of Contingent Liabilities Include

question 52

Multiple Choice

Examples of contingent liabilities include:

• A) Future payments arising under employee entitlements for long service leave.
• B) Past tax deductions claimed that are under review by the Australian Taxation Office, but which the entity intends to dispute if disallowed.
• C) Out of court settlements in the case of liability for damage to health due to products manufactured by the entity.
• D) Past tax deductions claimed that are under review by the Australian Taxation Office, but which the entity intends to dispute if disallowed and out of court settlements in the case of liability for damage to health due to products manufactured by the entity
• E) All of the given answers.

Apply arithmetic sequences to find the next number in a series.

Perform arithmetic operations to determine the distance or amount of fuel used based on consumption rates.

Compute simple transactions including discounts, totals, and change.

Understand the concept of unit price from a total cost.

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Definitions:

Weakest Degree

The minimum intensity or level at which a particular phenomenon or condition exists or is perceptible.

Random Sample

a sample that fairly represents a population because each member has an equal chance ofinclusion.

Representative of the Population

A sample group or individual characteristics that accurately reflect the larger population from which they're drawn.

Positive Correlation

A relationship between two variables in which both variables move in tandem, meaning as one variable increases, the other one also increases.