Which of the Following Situations Results in a Contingent Liability

question 55

Multiple Choice

Which of the following situations results in a contingent liability?

• A)Making a credit card sale
• B)Dishonoring a note
• C)Estimating uncollectible accounts expense
• D)Discounting a note

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Definitions:

Skills Inventory

A comprehensive list or database of the skills, competencies, and qualifications of employees within an organization, used to match workforce capabilities with business needs and opportunities.

Seniority

A system where priority or privilege is given to employees based on their length of service in the company.

Skills And Abilities

The competencies and capabilities that enable an individual to perform tasks and activities to a certain standard.

Forecasting Human Resources

involves predicting an organization's future workforce needs to ensure it has the right number of employees with the necessary skills.