Which of the Following Is a Contingent Liability

question 122

Multiple Choice

Which of the following is a contingent liability?

• A) Unearned revenues
• B) Excise tax payable
• C) Payroll liabilities
• D) Disputed additional tax assessment

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Definitions:

Variance

A measure of the dispersion or spread of a set of data points around their mean value, indicating how spread out the data points are.

Test Scores

Test scores are the quantitative results obtained from educational assessments or standardized tests, indicating a participant's performance.

Stratified Random Sampling

A method of sampling that involves dividing a population into smaller groups known as strata based on shared characteristics and then randomly sampling from these strata.

Strata

Layers or levels within a larger population that are distinguished by one or more characteristics, used in stratified sampling to improve the accuracy of the sample by ensuring it reflects the population's composition.