Potential Liabilities That Depend on Future Events Arising Out of Past

question 28

Multiple Choice

Potential liabilities that depend on future events arising out of past events are called:

• A)actual liabilities.
• B)contingent liabilities.
• C)estimated liabilities.
• D)long-term liabilities.

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Definitions:

Bad-News Adjustment Letter

A written communication typically from a business to a customer, addressing a complaint and explaining the resolution or adjustment made in response to an issue.

Goodwill

The intangible asset that represents the value of a company's brand, customer relationships, reputation, and other non-physical assets.

Language Errors

Mistakes made in the use of language, including grammar, syntax, spelling, and vocabulary inaccuracies.

Salutation Example

A specific instance or suggestion of how to begin a letter or email, such as "Dear" followed by the recipient's title and last name.