Which One of the Following Is a Required Condition for a Contingent

question 60

Multiple Choice

Which one of the following is a required condition for a contingent liability to exist?

• A) There is a potential liability to an employee of the client.
• B) The amount of the future payment is known.
• C) The liability resulted from an existing condition.
• D) The outcome has been resolved by a current event.

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Definitions:

Microprocessor

A computer processor contained on a single integrated circuit, performing the functions of a CPU in a computer system.

Thin Client

A computing device with minimal local storage and processing capabilities, designed to connect to a network where it can access applications and data.

Full Functionality

The full range of features or operations that a system, device, or application is designed to perform.

SSDs

Solid State Drives; a type of non-volatile storage media that stores data on flash memory and has no moving parts, offering faster access and lower latency.