A Contingent Liability

question 37

Multiple Choice

A contingent liability:

• A)is always a specific amount.
• B)is an obligation arising from the purchase of goods or services on credit.
• C)is an obligation not requiring a future payment.
• D)is a potential obligation that depends on a future event.

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Definitions:

Kidneys

Bean-shaped organs that filter waste products from the blood, excrete urine, and help regulate blood pressure, electrolyte balance, and red blood cell production.

Supplied

Provided, made available, or furnished with what is necessary or required.

Aortic Arch

The curved portion of the aorta, the largest artery in the body, from which major arteries to the head and upper limbs branch off.

Brachiocephalic Artery

A major blood vessel of the arterial system that supplies blood to the right arm and head, branching from the aorta.