What Is a "Contingent Asset

question 22

Multiple Choice

What is a "contingent asset?"

• A) There is no such thing, in IASB standards, as a "contingent asset."
• B) This is an asset that has been put up as collateral against a loan.
• C) This is a possible inflow of resources arising from a future activity.
• D) It is a probable asset, arising from past events, whose existence is yet to be confirmed definitively by a future event.

---

Definitions:

Circuit Impedance

The total current-limiting property of an AC circuit.

RLC Parallel Circuit

A circuit consisting of a resistor (R), inductor (L), and capacitor (C) all connected in parallel.

Circuit Capacitance

The ability of an electrical circuit to store charge, measured in farads.

RLC Series Circuit

An electrical circuit composed of a resistor (R), an inductor (L), and a capacitor (C) connected in series, exhibiting complex impedance and resonance phenomena.