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When presenting information on cardiac arrest and automated external defibrillation to a community group, a man asks why people should perform CPR prior to the arrival of EMS if they are going to provide a shock. Your response would be:
Contingent Liability
A potential financial obligation depending on the outcome of future events, not yet confirmed as a liability.
Future Event
A future event is an occurrence or situation that is expected or anticipated to happen at a later date, which can impact financial planning and decisions.
Current Liabilities
Obligations or debts that a company is expected to pay within one year or within its normal operating cycle, whichever is longer.
Balance Sheet
A summary report detailing a firm's assets, liabilities, and equity of shareholders at a certain time.
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