Which of the Following Is Both an Estimated Liability and a Contingent

question 91

Multiple Choice

Which of the following is both an estimated liability and a contingent liability?

• A)Cosignature on $500 loan
• B)Current portion of long-term debt
• C)Warranty liability
• D)Liability for dividends

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Definitions:

Conflict Areas

Conflict areas are regions where there is a high incidence of conflict, often involving violence, warfare, or political instability.

Overmining

The excessive extraction of minerals or resources, leading to depletion or significant environmental degradation.

War-Torn Areas

are regions that have been severely affected by the consequences of armed conflict, impacting their social and economic fabric.

Conservation

The protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them to prevent depletion or degradation.