Contingent Liabilities Must Be Recorded If

question 159

Multiple Choice

Contingent liabilities must be recorded if:

• A) The future event is reasonably possible but not estimable.
• B) The amount owed cannot be reasonably estimated.
• C) The future event is probable but not estimable.
• D) The future event is remote.
• E) The future event is probable and the amount owed can be reasonably estimated.

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Definitions:

Standing Alone

The state or condition of being isolated, independent, or not influenced or supported by others.

Walking

A form of locomotion involving two legs that move one at a time, allowing humans and other bipeds to move efficiently on the ground.

Sense

The physiological capacity of organisms to obtain information from their environment through sensory organs.

Touch

is the sense that allows living beings to perceive and respond to stimuli through physical contact, playing a crucial role in human emotional communication and sensory experience.