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The Coriolis effect causes objects moving in the northern hemisphere to veer off course .
Present Obligation
A duty or responsibility that is expected to be settled in the future, recognized as a liability.
Past Event
An event or transaction that has occurred prior to the balance sheet date, impacting the financial position or performance of an entity.
Reliable Estimate
A calculation or assessment regarding figures or outcomes that is deemed dependable based on available evidence.
Contingent Liability
A contingent liability is a potential financial obligation that may arise depending on the outcome of an uncertain future event.
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