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.

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Definitions:

Secondary Category

A classification level that exists beneath the primary category, further dividing and specifying subjects or items.

Sexual Orientation

An inherent or immutable enduring emotional, romantic, or sexual attraction to other people.

Diversity Competency

The ability to interact effectively with people from different cultures, backgrounds, and beliefs.

Intellectual Openness

The willingness to consider and engage with diverse ideas and perspectives.