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Based on the contingency viewpoint, which statement would be true?
Inheritance
Assets received from a deceased person's estate by heirs or through a will.
Borrower's Payment
The amount of money a borrower is obligated to pay back to a lender according to the terms of the borrowing agreement.
Asset
Resources owned or controlled by a business or an individual that are expected to produce future economic benefits.
Compounded Semiannually
A method of calculating interest where the earned interest is added to the principal amount twice a year, leading to interest being earned on interest in the following periods.
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