When Should Federal Entities Recognize Liabilities for Natural Disasters

question 34

Multiple Choice

When should federal entities recognize liabilities for natural disasters?

• A) When the disaster occurs.
• B) When the financial effect of the disaster is known or can be estimated.
• C) When the government acknowledges financial responsibility and an amount is due and payable.
• D) Never. The federal government does not accept responsibility for Acts of God.

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Definitions:

Most Risk

A term that could be interpreted in various contexts, but it is not a standard business or marketing key term. NO.

Licensing

The granting of a right or permission by one party to another for the use of a product, service, or intellectual property.

Exporting

The sale of goods or services produced in one country to customers in another country.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.