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.

---

Definitions:

Vivid Descriptions

Detailed and lifelike depictions in writing or speech that appeal to the sensory experiences of the audience.

Executive Control System

A cognitive system that manages higher-order brain functions, including problem-solving, planning, memory, and attention regulation.

Working Memory

The part of short-term memory that is concerned with immediate conscious perceptual and linguistic processing.

Monitor

A device or individual that observes, checks, and keeps a continuous record of a process or situation.