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Obligations That May Arise from Past Transactions Only If Certain

question 48

True/False

Obligations that may arise from past transactions only if certain events occur in the future are contingent liabilities.


Definitions:

Rapists

Persons who commit rape or sexual assault against others.

Planning

The process of setting objectives and determining the most effective course of action to achieve them.

Assault

The act of inflicting physical harm or unwanted physical contact upon another person.

Friendly

Characterized by kindness, warmth, and approachability; showing friendship or amicability.

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