Which of the Following Liabilities Is Not Contingent

question 52

Multiple Choice

Which of the following liabilities is not contingent?

• A) A liability to replace a specific defective television set already returned to the manufacturer
• B) A liability to pay pension benefits if a specific employee lives to retirement
• C) A liability to pay any adverse judgment for a product liability case currently on appeal
• D) A liability to pay for books received by a college bookstore under terms that allow for the return for full refund of any books not sold

---

Definitions:

Different Prices

Refers to the variability in the cost of goods and services across different markets, locations, or time periods due to various factors such as demand, supply, and inflation.

Maximize Profits

The process of adjusting the production level, pricing, or other variables to achieve the highest possible financial gain.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a specified period.

Markets

Venues or systems where buyers and sellers engage in the exchange of goods, services, and information.