Examlex
Which of the following statements about fungi is INCORRECT?
Contingent Liability
A potential financial obligation that may occur or become payable in the future, depending on the outcome of a specific event.
Reasonably Possible
A term used in accounting and law to describe a situation or outcome that, while not certain, is more than a remote possibility.
Estimable
Capable of being estimated or appraised, often used in finance and accounting to describe assets or liabilities that can be accurately assessed.
Installment Note
A debt instrument that requires regular payments, or installments, of principal and interest over a specified period.
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