Which of the Environmental Laws and Treaties Listed Below Is

question 37

Multiple Choice

Which of the environmental laws and treaties listed below is responsible for protection of endangered species?

• A)Clean Water Act
• B)Marine Mammal Act
• C)CITES
• D)Pitman Robertson Act
• E)Kyoto Protocol

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Definitions:

Contingent Liabilities

Contingent liabilities are potential liabilities that may occur depending on the outcome of a future event, and are recorded in the company's financial statements if probable and estimable.

Unearned Revenues

Liabilities representing payments received for goods or services that have not yet been delivered or performed.

Deferred Revenues

Income received by a company for goods or services yet to be delivered or performed, recorded as a liability on the balance sheet until earned.

Future Wages

Compensation that an employee is expected to earn in upcoming periods for services to be rendered.