Examlex
Match each of the following terms with its corresponding definition or description.
-the exchange of oxygen and carbon dioxide in the lung
Contingent Liability
A potential obligation that may arise depending on the outcome of a future event, not recognized on the balance sheet unless occurrence is probable and the amount can be reasonably estimated.
Estimated Liability
A potential financial obligation that may arise in the future, recognized in accounting based on probable expenditures.
Times Interest Earned
A financial ratio that measures a company's ability to meet its debt obligations by comparing its income before interest and taxes (EBIT) to its interest expenses.
Interest Expense
Interest expense is the cost incurred by an entity for borrowed funds, usually expressed in the form of interest payments on loans, bonds, or credit lines.
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