Examples of Contingent Liabilities Include

question 71

Multiple Choice

Examples of contingent liabilities include:

• A) future payments arising under employee entitlements for long service leave.
• B) past tax deductions claimed that are under review by the Australian Taxation Office, but which the entity intends to dispute if disallowed.
• C) out of court settlements in the case of liability for damage to health due to products manufactured by the entity.
• D) past tax deductions claimed that are under review by the Australian Taxation Office, but which the entity intends to dispute if disallowed and out of court settlements in the case of liability for damage to health due to products manufactured by the entity

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Definitions:

Vision Articulation

The process of clearly expressing a future state or goal that an organization or individual aims to achieve, serving to motivate and guide actions.

Inspirational Motivation

A leadership approach that involves inspiring and motivating others to achieve a vision or set of goals through positive reinforcement and enthusiasm.

Transactional Influence

A leadership style focused on the exchange of resources or rewards for performance or compliance.

GLOBE Model

A framework for understanding the impact of culture on leadership and organizational practices across the world.