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Contingent Liabilities Are Recorded in the Accounts If the Future

question 11

Essay

Contingent liabilities are recorded in the accounts if the future event is _______________ and the amount owed can be _______________.
Answers must appear in this order.


Definitions:

Code Of Conduct

A set of rules outlining the norms, rules, and responsibilities or proper practices of an individual, party, or organization.

Ethical Compliance

Adherence to ethical standards and regulations set by professional bodies or legislation to ensure moral conduct in business practices.

Successfully Implemented

Refers to projects, initiatives, or strategies that have been executed effectively and have achieved their intended goals.

Pyramid Of Social Responsibility

A model that outlines a corporation's obligations to stakeholder groups in a hierarchical manner, prioritizing economic, legal, ethical, and philanthropic responsibilities.

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