A Contingent Liability

question 97

Multiple Choice

A contingent liability

• A) definitely exists as a liability but its amount and due date are indeterminable.
• B) is accrued even though not reasonably estimated.
• C) is not disclosed in the financial statements.
• D) is the result of a loss contingency.

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Definitions:

Niche-Market Approach

A marketing strategy that targets a specific, well-defined segment of the market.

Market Segmentation

A strategy whereby a firm divides the total market into groups of people who have relatively similar product needs.

Market Positioning

The process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way relative to competitors.