Which of the Following Is TRUE of a Contingent Liability

question 217

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:

Interview Process

The sequence of stages or steps undertaken during the recruitment or selection of a candidate, usually involving one or more interviews.

Career Portfolio

A collection of documents and evidence showcasing an individual's professional accomplishments, skills, and goals.

Samples of Work

Examples or pieces of work that demonstrate an individual's skill, quality, and experience in a particular field.

Job Descriptions

A formal account of an employee's responsibilities, duties, and possibly the qualifications required for a particular position.