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:

Agricultural Revolution

A period of significant agricultural development marked by the introduction of new farming techniques and crops, leading to increased food production and population growth.

Natural World

The aspects of the environment that exist independently of human activities.

Soil Fertility

the ability of soil to support plant growth by providing necessary nutrients, water, and air.

Golden Age

A period of great achievement in a society's history, marked by prosperity, cultural richness, and significant advancements.