List Five Examples of Liabilities That Are Based Upon Contingent

question 124

Short Answer

List five examples of liabilities that are based upon contingent obligations.

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Definitions:

New Issue

Financial securities (like stocks or bonds) that are publicly sold for the first time.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interest and certain rights in the company.

Subrogation

The legal right for an insurer to pursue a third party that caused an insurance loss to the insured.

Subscription

A payment for a service or product that is provided over a period of time, typically regularly (such as monthly or annually).