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

---

Definitions:

Primary Visual Cortex

The part of the cerebral cortex responsible for processing visual information, located in the occipital lobe.

Limbic System

A complex system of nerves and networks in the brain, involved with instinct and mood. It controls the basic emotions (fear, pleasure, anger) and drives (hunger, sex, dominance, care of offspring).

Amygdala

A section of the brain that is involved in emotions, decision-making, and memory processing, particularly with emotional reactions.

Trauma

Trauma is an emotional response to a deeply distressing or disturbing event that overwhelms an individual's ability to cope, causing feelings of helplessness.