A Contingent Liability

question 71

Multiple Choice

A contingent liability

• A)Is a liability of a specific amount
• B)Is a potential obligation that depends on a future event arising out of a past transaction
• C)Is an obligation not requiring immediate payment
• D)Is an obligation arising from the purchase of goods or services on credit
• E)None of these

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Definitions:

System Unit

The metal or plastic case that holds all the physical parts of the computer together, including the computer’s processor (its brains), its memory, and the many circuit boards that help the computer function.

Pixel

A single point that creates the images on a computer monitor. Pixels are illuminated by an electron beam that passes rapidly back and forth across the back of the screen so that the pixels appear to glow continuously.

Hertz

A unit of frequency equal to one cycle per second, used to measure the frequency of oscillations and vibrations.

Bit

The most basic unit of data in computing and digital communications, which can have a value of either 0 or 1.