A Contingent Liability Is a Potential Obligation That Depends on a Future

question 146

True/False

A contingent liability is a potential obligation that depends on a future event arising from a future transaction or event.

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Definitions:

Voting Rights

The entitlements or privileges of individuals to participate in the electoral process, by casting votes in elections to choose their representatives.

Enfranchised Black Voters

Refers to African American citizens who have been granted the right to vote, particularly following historical movements for civil rights and voting equity.

Political Party

An organized group of people who share similar political views and work together to influence government policy and election outcomes.

15th Amendment

An addition to the U.S. Constitution, ratified in 1870, that prohibits the federal and state governments from denying a citizen the right to vote based on that citizen's "race, color, or previous condition of servitude."