A Contingent Liability

question 162

Multiple Choice

A contingent liability

• A)is a potential liability that depends on a future event arising out of a past transaction.
• B)is a liability that can always be calculated with great precision (i.e.,always has a definite amount).
• C)does not include product safety lawsuits.
• D)does not include liabilities relating to environmental issues such as toxic landfills.
• E)is not of interest to readers of financial statements.

Acknowledge the ethical considerations in business communication.

Understand the significance of communication skills in the workplace.

Recognize the importance of adapting messages to specific audiences.

Identify the implications of social media and digital communication trends on traditional business communication practices.

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