Potential Liabilities That Depend on Future Events Arising Out of Past

question 30

Multiple Choice

Potential liabilities that depend on future events arising out of past events are called:

• A)long-term liabilities.
• B)estimated liabilities.
• C)contingent liabilities.
• D)current liabilities.

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Definitions:

Contracted Out

The process of hiring external organizations or individuals to perform services or tasks rather than using in-house resources.

Organizational Uncertainty

Refers to the lack of predictability and clarity regarding the future direction, decisions, and actions within an organization.

Strategic Contingency

The concept that organizational strategies must be adaptable to current and foreseeable conditions to ensure effectiveness.

Crucial Impact

A significant effect or influence that is essential to the outcome or success of a process or event.