Examlex
Which of the following statements about the probing method of obtaining commitment is FALSE?
Debt Guarantees
Debt guarantees refer to commitments made to pay back a loan or debt if the original borrower fails to do so, often provided by a third party.
Contingent Liabilities
Liabilities that may occur depending on the outcome of a future event.
Contingent Liability
A potential financial obligation that may occur, depending on the outcome of a future event.
Future Event
An occurrence or situation that has not yet happened but is expected or anticipated.
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