A Contingent Liability Is Defined as A A) I
B) II

question 19

Multiple Choice

A contingent liability is defined as a: $\begin{array}{|l|l|l|l|l|} \hline& \text { I } & \text { II } & \text { III } & \text { IV } \\\hline \text { possible obligation that arises from past events. } & \text { Yes } & \text { Yes } & \text { No } & \text { No } \\\hline \begin{array}{l}\text { possible obligation whose existence will be confirmed } \\\text { by the occurrence of an uncertain future event. }\end{array} & \text { Yes } & \text { No } & \text { Yes } & \text { No } \\\hline \begin{array}{l}\text { present obligation not recognised because the outflow } \\\text { of economicbenefits to settle the obligation is not } \\\text { probable. }\end{array} & \text { Yes } & \text { No } & \text { Yes } & \text { No } \\\hline \text { present obligation that is measured reliably. } & \text { No } & \text { No } & \text { Yes } & \text { Yes }\\\hline\end{array}$

• A) I.
• B) II.
• C) III.
• D) IV.

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Definitions:

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Human Resource Information System (HRIS)

A software solution used by companies to manage employee data, payroll, recruitment processes, and benefits administration.

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Factors outside an organization that can impact its performance, such as economic conditions, competition, and regulatory changes.

Environmental Practices

Methods or processes employed by individuals, businesses, or governments aimed at reducing their impact on the natural environment.