Examlex
Which of the following is any event or action that could cause a loss of or damage to computer hardware, software, data, information, or processing capability?
Contingent Liabilities
Potential liabilities that may occur depending on the outcome of a future event, which are recorded in the financial statements if the occurrence is likely and the amount can be reasonably estimated.
Potential Obligation
This term refers to a possible future liability that might arise as a result of past events or transactions, dependent on certain occurrences.
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