A Contingent Liability

question 149

Multiple Choice

A contingent liability:

• A)Is always of a specific amount.
• B)Is a potential obligation that depends on a future event arising out of a past transaction or event.
• C)Is an obligation not requiring future payment.
• D)Is an obligation arising from the purchase of goods or services on credit.
• E)Is an obligation arising from a future event.

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Definitions:

Labor Migration

The relocation of individuals from one region to another with the aim of finding work.

Labor Unions

Organizations representing workers' interests, focusing on negotiating wages, work rules, complaint procedures, rules governing hiring, firing, and promotion of workers, benefits, workplace safety and policies.

International Migrants

Individuals who move from one country to another, either temporarily or permanently, for reasons such as employment, education, or to escape conflict.

Home Countries

Refers to the countries where multinational corporations are headquartered.