Examples of Contingent Assets Include All of the Following Except

question 4

Multiple Choice

Examples of contingent assets include all of the following except:

• A)Unrealized gain on the sale of investments.
• B)Pending lawsuit with a favorable outcome.
• C)Tax refund disputed by the government but with a possible favorable outcome.
• D)Promise of land to be donated by city as an enticement to move manufacturing facilities.

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Definitions:

Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Standardization

The process of implementing and developing technical standards based on the consensus of different parties including firms, users, interest groups, standards organizations, and governments.

Cost Economies

Refers to the reduction in average cost of production as a firm increases its size or volume of output, typically achieved through operational efficiencies.

Product Variety

The assortment or mix of different products that a company offers to its customers.