A Contingent Liability Exists When a Potential Liability That Depends

question 78

True/False

A contingent liability exists when a potential liability that depends on a future event arising out of a past transaction liability is either not probable or it cannot be reliably estimated.

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Definitions:

Eating Habits

The patterns and preferences that determine what, when, and how a person eats.

Family Therapist

A mental health professional specializing in treating psychological, emotional, and relational issues within the context of the family system.

Family Relationships

The interpersonal connections and dynamics between members of a family unit, including roles, structures, and communication patterns.

Individual's Behaviors

Actions or reactions of an individual, often in response to external stimuli, that can be observed and measured.