A Contingent Liability Is

question 83

Multiple Choice

A contingent liability is

• A) an unearned revenue.
• B) a potential obligation, the existence or amount of which depends on a future event.
• C) an amount owed to a state or local government.
• D) an amount related to an impairment loss on an intangible asset.

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Definitions:

High Visibility

Refers to the extent to which an individual's actions or performance is noticeable to others, particularly within a work context.

Cross-cultural Factor

Elements that vary between cultures and can influence how people interpret behaviors, communications, and norms.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Dependability

The quality of being trustworthy and reliable.