A Pending Lawsuit Is an Example of a Contingent Liability

question 32

True/False

A pending lawsuit is an example of a contingent liability.

---

Definitions:

Negative Feedback

A type of constructive criticism that points out what was done wrong or what needs improvement, which can be essential for progress.

Decreasing Rigid Structures

The act of making systems, processes, or organizations more flexible, adaptable, and less strictly controlled.

Changing Circumstances

The variation or alteration of conditions or situations over time.

Viable

Capable of working successfully or living; feasible and able to sustain life or effectiveness.