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:

Obscene Gestures

Physically expressive forms of non-verbal communication that are considered offensive or disrespectful in many cultures.

Hostile Motorists

Refers to drivers who exhibit aggressive or antagonistic behavior towards other drivers on the road.

Nonverbal Communication

The transmission of meaning from one person to another through means or symbols other than words.

Majority Culture

The dominant cultural practices, beliefs, and values of the predominant social group within a given society.