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:

Neurological Patient

An individual who suffers from a disorder that affects the nervous system, including the brain, spinal cord, and nerves.

Nervous System

The complex network of nerve cells and fibers that transmits nerve impulses between parts of the body, coordinating its actions and sensory information.

Anterograde Amnesia

An inability to form new memories following an event that caused the amnesia, while past memories, prior to the event, may remain intact.

Multiplication Tables

A mathematical table used primarily to define a multiplication operation for an algebraic system.