A Contingent Liability Which Is Normally Accrued Is

question 41

Multiple Choice

A contingent liability which is normally accrued is

• A) notes receivable discounted.
• B) accommodation endorsements on customer notes.
• C) additional compensation that may be payable on a dispute now being arbitrated.
• D) estimated claims under a service warranty on new products sold.

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Definitions:

Management by Objectives

Management by Objectives is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed upon by both management and employees.

Identifying Job Factors

The process of determining the essential tasks, skills, knowledge, and responsibilities associated with a job, which helps in creating accurate job descriptions and assessments.

Organization Chart

A description of the arrangement of work positions within an organization.

Sexual Harassment

Unwanted sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature in a workplace or professional setting.