Contingent Liabilities Pose an Ethical Challenge Because They're Based on Past

question 141

True/False

Contingent liabilities pose an ethical challenge because they're based on past events, they are easier to manipulate.

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Definitions:

Different Times

Occurring or existing at varying or distinct moments or periods.

Deposits

Funds placed into a bank account or materials settled in a location or container, accumulating over time.

Transactions

Actions carried out between parties that involve the exchange of goods, services, or funds, often documented and finalized through a formal process or agreement.

ATM

An Automated Teller Machine, which is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.