Current Liabilities Fall into Two Categories Which Are Referred to As

question 149

Multiple Choice

Current liabilities fall into two categories which are referred to as:

• A) contingent liabilities and contra-liabilities.
• B) contingent liabilities and noncontingent liabilities.
• C) unearned liabilities and contra-liabilities.
• D) liabilities of a known amount and estimated liabilities.

---

Definitions:

One-Child Pledge

A policy or agreement to limit families to only one child, often to control population growth.

Demographic Transition

The transition from high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system.

Financial Capital

The monetary resources owned or available to individuals, companies, or countries for investment in wealth-generating assets.

Developing Countries

Nations with lower levels of industrialization, economic activity, and human development index compared to developed countries, often working towards growth and advancement.