Contingent Liabilities Must Be Recorded If

question 124

Multiple Choice

Contingent liabilities must be recorded if:

• A)The future event is probable and the amount owed can be reasonably estimated.
• B)The future event is remote.
• C)The future event is reasonably possible but not estimable.
• D)The amount owed cannot be reasonably estimated.
• E)The future event is probable but not estimable.

---

Definitions:

Peak Voltage

The maximum absolute value of voltage in a periodic waveform, indicating the highest point the voltage reaches.

Persisting Positive Charge

A lasting electrical charge characterized by an excess of protons, often seen in certain particles or materials.

Negative Charge

An electrical charge that results from an excess of electrons in an atom or molecule, leading to an attraction to positively charged particles.

Action Potential

A transient electrical charge that travels along a neuron's axon, enabling neural communication.