A Gift Card Is an Example of a Contingent Liability

question 65

True/False

A gift card is an example of a contingent liability.

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Definitions:

Federal Courts

Courts established by the federal government of a country, in the United States, they include the Supreme Court, Courts of Appeals, and District Courts.

Court Clerk

An officer of the court whose responsibilities include maintaining the records of a court and managing its administrative functions.

Complaint

A formal legal document initiating a lawsuit by setting forth the facts and legal reasons the plaintiff believes they are entitled to relief from the defendant.

Court Clerk

A court official responsible for maintaining the records of a court and managing administrative functions.