A Contingent Liability Is a Potential,rather Than an Actual Liability,because

question 18

True/False

A contingent liability is a potential,rather than an actual liability,because it depends on a future event.

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Definitions:

Employees

Individuals who are hired by a company or organization to perform specific duties in exchange for compensation, such as wages or salaries.

Integration

The process of combining or coordinating separate elements of an organization or system to function together effectively.

Authority

The ability to dictate actions, decide on matters, and compel adherence.

Information Flow

The transfer of information from a source to a recipient through various means of communication or channels.