Obligations That Depend on Past Events and That Are Based

question 116

True/False

Obligations that depend on past events and that are based on future transactions are contingent liabilities.

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Definitions:

APC

Average Propensity to Consume refers to the ratio of consumption expenditure to income.

APC

Commonly stands for Armored Personnel Carrier, but in economic contexts, it can refer to the Average Propensity to Consume, which indicates the fraction of income that is spent on consumption.

APS

Acronym for Accumulated Plan Savings, often related to retirement saving plans; or it could also mean Anti-Phishing Security, depending on the context.

Disposable Income

The monetary resources left for household spending and saving after the application of income taxes.