A Contingent Liability Is an Actual Liability That Is Estimated

question 2

True/False

A contingent liability is an actual liability that is estimated when things go wrong.

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Definitions:

Null Hypothesis

A hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Alternative Hypotheses

The hypothesis that there is a significant difference between groups, counter to the null hypothesis.

Type II Error

A type of error that occurs when a statistical test fails to reject a false null hypothesis.

Null Hypothesis

A default hypothesis that there is no significant difference or relationship between specified populations, any observed effect is due to chance.