Liabilities That Might Arise from Which of the Following Probably

question 35

Multiple Choice

Liabilities that might arise from which of the following probably would be disclosed only in the notes to the financial statements?

• A)Possible warranty claims
• B)Guarantees of the debt of other companies
• C)Possible bankruptcy of an important customer whose account is current
• D)Estimated income taxes for the current year

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Definitions:

Hertz

The unit of frequency in the International System of Units (SI), defined as one cycle per second.

Frequency

The rate at which something occurs over a particular period or in a given sample, often used in the context of waves or sound.

Kinesthetic

Relating to kinesthesia, the awareness of the position and movement of the parts of the body by means of sensory organs in the muscles and joints.

Audition

is the formal term for the sense of hearing, or the process by which sound waves are interpreted by the brain.