Which of the Following Is True of a Contingent Liability

question 146

Multiple Choice

Which of the following is true of a contingent liability?

• A)It is a potential liability that depends on a future event.
• B)It is an actual liability that is difficult to estimate.
• C)It is an actual liability that depends on a past event.
• D)It is a liability resulting from a lawsuit settled in court.

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Definitions:

Event

An occurrence or action within a software environment that triggers a response or process, often user-initiated.

Appointments

Scheduled events or meetings, often entered into a calendar or schedule book, indicating a commitment at a particular time.

Calendar Items

Events, appointments, or tasks scheduled on a calendar that help users organize their time and activities.

iCalendar File

A digital file format used to store and share calendar event details across different applications and platforms.