Which One of the Following Items Would Be Most Likely

question 64

Multiple Choice

Which one of the following items would be most likely considered a contingent liability for Cannonbar,a grocery store chain?

• A)A patron slipped on a grape and broke her neck during the period under audit,no claim has been made against Cannonbar.
• B)The IRS has disagreed with deductions claimed on Cannonbar's previous period return.
• C)Management believes that a lawsuit that was filed during the period under audit against Cannonbar will be settled.
• D)Cannonbar has a note payable with a bank that was collateralized by all of the company's receivables in the period under audit.

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Definitions:

Participant Recruitment

The process of attracting and enlisting individuals to take part in a research study or experiment.

Financial Backing

Support or funding provided to help finance a project, venture, or business.

Language And Style

The choice of words, tone, and structure an author uses in communication to convey meaning and engage the audience.

Scholarly Credible

Refers to information or sources that are recognized for their accuracy, reliability, and contribution to academic or scientific knowledge, often peer-reviewed.