Contingent Liabilities Are Recorded in the Accounts If the Future

question 82

Short Answer

Contingent liabilities are recorded in the accounts if the future event is ________ and the amount owed can be ________.

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Definitions:

Gum Chewing

The act of chewing gum, which can be studied in psychology for its effects on concentration, stress reduction, or habit formation.

Candy Bar

A bar-shaped confectionery that typically includes ingredients such as chocolate, caramel, nuts, and nougat.

Grocery Store

A retail store that primarily sells food, both fresh and packaged, along with various household goods.

Crying

The shedding of tears in response to an emotional state, reflecting a range of feelings from deep sorrow to extreme joy.