Potential Liabilities That Depend on Future Events Arising Out of Past

question 30

Multiple Choice

Potential liabilities that depend on future events arising out of past events are called:

• A)long-term liabilities.
• B)estimated liabilities.
• C)contingent liabilities.
• D)current liabilities.

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Definitions:

Service Dimension

Various attributes of service including reliability, responsiveness, assurance, empathy, and tangibles that affect customer perceptions.

Spoilage

The deterioration or loss of goods, especially perishable items, due to factors such as time, temperature, or handling.

Spill

The unintended release of a substance, especially hazardous or contaminating, into an environment, necessitating a cleanup or containment response.

Differential Pricing

Differential Pricing is a strategy where a company sells the same product or service at different prices to different groups of customers, based on factors like location, purchase volume, or time of purchase.