Which of the Following Would Be Considered a Contingent Liability

question 10

Multiple Choice

Which of the following would be considered a contingent liability?

• A) Federal income tax payable
• B) Warranties payable
• C) Pending litigation
• D) Contingency payable
• E) Sales tax payable

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Definitions:

Java

Java is a popular, high-level programming language known for its portability across platforms, developed by Sun Microsystems in 1995.

Initializes

Initializes refers to the process of assigning an initial value to a variable or preparing a newly created object for use.

Null String

A string variable that has no value assigned to it or is explicitly set to a state representing "nothing" or "empty."

Blank Character

A character that represents a space or lack of visible mark in text, often used in programming for separating words and formatting text.