Which of the Following Would Best Describe a Contingent Liability

question 74

Multiple Choice

Which of the following would best describe a contingent liability?

• A)An obligation to transfer services instead of cash to settle a liability.
• B)An obligation where the costs will be covered by insurance.
• C)An obligation with a high degree of uncertainty about the amount or timing of the payment.
• D)An obligation with a low degree of uncertainty about the amount or timing of the payment

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Definitions:

Exchange Transfusion

A blood transfusion process where the patient's blood or components are removed and replaced with donor blood or plasma.

Average Adult

A reference to the common or typical characteristics, such as age, size, or health, of an adult person in a certain population.

Agglutination

The clumping together of particles, often used to refer to the clumping of cells or particles in response to antibodies or antigens.

Hemolysis

The destruction or rupture of red blood cells, leading to the release of hemoglobin into the blood plasma, which can occur due to various conditions or factors.