A Contingent Liability Exists When a Potential Liability That Depends

question 78

True/False

A contingent liability exists when a potential liability that depends on a future event arising out of a past transaction liability is either not probable or it cannot be reliably estimated.

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Definitions:

Employee Performance

The job-related activities output and outcomes an employee accomplishes in accordance to the expectations or standards of the organization.

HR Evolution

The transformation of human resources management from its traditional administrative and operational role to a strategic partner within organizations.

Retooling HR

Refers to revising or reforming the human resources functions within an organization to better support its goals, often through the adoption of new technologies or practices.

Information Overload

A condition where an individual or organization receives too much information, leading to difficulty in understanding issues or making decisions.