Which Statement Is Correct

question 66

Multiple Choice

Which statement is correct?

• A)Contingencies arise from future events.
• B)Financial guarantees arise from contracts previously entered into.
• C)Current liabilities arise from future events.
• D)The amount to be paid for financial guarantees is known or reasonably estimable.

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Definitions:

Flight Response

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival, prompting an urge to flee.

Relaxation Response

A physiological state of deep rest that alters the physical and emotional responses to stress.

Neuroticism

A personality trait characterized by a long-term tendency to experience negative emotions such as anxiety, anger, or depression.

Personality Trait

A facet of personality on which people differ from one another.