Which of the Following Would Not Be Considered a Contingent

question 65

Multiple Choice

Which of the following would not be considered a contingent liability?

• A)Products sold with a warranty
• B)Pending lawsuits
• C)Frequent flyer miles earned by passengers
• D)Cash received from advance ticket sales

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Definitions:

Specific Performance

A legal remedy requiring a party to perform their obligations under a contract, rather than simply paying damages.

Wrongful Dismissal

Termination of employment without legal justification, violating the contract or laws protecting the employee's rights.

Severance Pay

Severance pay refers to the compensation that an employer provides to an employee who has been laid off or terminated, typically based on the length of employment.

Wrongful Dismissal

Termination of employment that breaches the terms of the contract of employment or a statutory requirement.