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COGNITIVE ASSESSMENT Which of the following is NOT true about SSDs?
Contingent Liabilities
Possible obligations that might arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more future events.
U.S. GAAP
Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.
Current Liabilities
Short-term financial obligations that a company is expected to pay within one year or one operating cycle, whichever is longer.
Working Capital
The difference between a company's current assets and current liabilities, indicating the liquidity levels for operating needs.
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