Which Statement Is Not Correct

question 60

Multiple Choice

Which statement is not correct?

• A)Contingencies arise from past events.
• B)Financial guarantees arise from contracts previously entered into.
• C)The amount to be paid for financial guarantees is known or reasonably estimable.
• D)The amount to be paid for current liabilities is known or reasonably estimable.

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Definitions:

Habit

A repetitive behavior that an individual performs regularly, often unconsciously.

Frequency

The rate at which something occurs or is repeated over a particular period of time or in a given sample.

Stop Signal Task

A psychological test used to measure an individual's ability to inhibit a response that has already been initiated.

Attention-Deficit Disorder (ADD)

A neurological disorder characterized by a pattern of inattention and/or impulsivity that interferes with functioning or development.