Contingent Liabilities Are Recorded in the Accounts If the Future

question 82

Short Answer

Contingent liabilities are recorded in the accounts if the future event is ________ and the amount owed can be ________.

---

Definitions:

Predict Decline

To forecast a decrease or deterioration in condition, value, or performance.

Reverse Double Standard

Condemning men more than women for the same sexual behavior (e.g., premarital sex).

Condemn

To express strong disapproval of something or someone, often in a public context.

Unplanned Pregnancy

Occurs when a pregnancy is not intended or expected prior to conception, leading to various emotional, financial, and social impacts.