Examlex
Which of the following is NOT one of the first emotions to be displayed by infants?
Contingent Assets
Possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of certain future events not wholly within the control of the company.
Constructive Obligation
An obligation that derives from an entity’s actions where: (a) by an established pattern of past practice, published policies or a sufficiently specific current statement, the entity has indicated to other parties that it will accept certain responsibilities; and (b) as a result, the entity has created a valid expectation on the part of those other parties that it will discharge those responsibilities.
Legal Obligation
A duty enforceable by law, deriving from statutes, contracts, or legal precedents.
Equitable Obligation
An obligation based on fairness, ethics, or natural law, rather than on a contractual or legal requirement.
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