Which of the Following Is an Example of a Contingent

question 116

Multiple Choice

Which of the following is an example of a contingent liability?

• A) Obligations related to product warranties.
• B) Possible receipt from a litigation settlement.
• C) Pending court case with a probable favorable outcome.
• D) Tax loss carryforwards.

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Definitions:

Structure

The arrangement of atoms within a molecule which dictates its physical and chemical properties.

Sequence of Reagents

The ordered list of chemical substances (reagents) used in a multi-step chemical synthesis, detailing the progression of reactions.

Transformation

A thorough or dramatic change in form or appearance, often referring to the alteration of a substance's structure in chemical reactions.

M-cresol

An organic compound, a type of methylphenol, where the methyl group is positioned meta to the hydroxyl group on a benzene ring.