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State the Three Conditions Required for a Contingent Liability to Exist

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Essay

State the three conditions required for a contingent liability to exist.


Definitions:

Placebo Effect

A phenomenon in which a person experiences a perceived improvement in their condition due to the expectation of treatment, rather than the treatment itself.

Random Selection

A method used in research to randomly choose participants for a study, ensuring that every individual in a population has an equal chance of being chosen, thus increasing the generalizability of the results.

Ageism

Discrimination or prejudice against individuals or groups based on their age.

Discrimination

Discriminatory behavior towards various groups of individuals, particularly based on their race, age, or gender.

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