A Contingent Liability Is

question 96

Multiple Choice

A contingent liability is:

• A)Always of a specific amount.
• B)A potential obligation that depends on a future event arising from a past transaction or event.
• C)An obligation not requiring future payment.
• D)An obligation arising from the purchase of goods or services on credit.
• E)An obligation arising from a future event.

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Definitions:

Long-Shot View

A camera shot in films or photography that captures a wide area or setting, showing a broad context.

New Presentation

The act of creating a fresh slideshow or presentation document, typically using software like PowerPoint.

PowerPoint

A presentation program developed by Microsoft, used for creating slideshows composed of text, graphics, and other objects, which can be displayed on-screen and navigated through.

Create

The process of bringing something into existence, such as a new file, document, or artwork, within a digital environment.