Which of the Following Is an Example of a Contingent

question 102

Multiple Choice

Which of the following is an example of a contingent liability?

• A)A lawsuit pending against a restaurant chain for improper storage of perishable food items.
• B)The liability for future warranty repairs on computers sold during the current period.
• C)A corporation's long-term employment contract with its chief executive officer.
• D)A liability for notes payable with interest included in the face amount.

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Definitions:

Stability of Temperament

The degree to which an individual's personality traits, including mood and behavior, remain consistent over time.

Wide Variations

Broad differences or discrepancies within a set of items, individuals, or phenomena, indicating a high degree of diversity.

Adolescence

A period marked by physical and mental development, usually extending from puberty to the age when one is considered a legal adult.

Irregular Schedules

Unpredictable or non-consistent time patterns in work, sleep, or activities.