A Contingent Liability Is a Liability That May Materialize in the Future

question 9

True/False

A contingent liability is a liability that may materialize in the future because of something that happened in the past.

---

Definitions:

Cardiac Patients

Individuals receiving medical attention for conditions related to the heart.

Aspirin

A medication used to reduce pain, fever, or inflammation, known chemically as acetylsalicylic acid.

Emergency Room

A specialized department in a hospital that provides immediate treatment for acute illnesses and trauma.

House Calls

House calls refer to visits made by professionals, such as healthcare providers, to the home of a client or patient to deliver services.