Multiple Choice
When a company signs a contract to pay for a specified quantity of goods at a specified price, whether they actually take that much from the supplier or not, is called an) :
A) contingent liability.
B) inventory commitment.
C) take-or-pay contract.
D) a contingent pay contract.
Correct Answer:
Verified
Correct Answer:
Verified
Q46: Which of the following liabilities is often
Q47: Long-term debt that is due within one
Q48: Long-term liabilities are recorded in the books
Q49: A company has $5,000,000 in long-term debt
Q50: A purchase commitment is an example of
Q52: Which of the following companies would usually
Q53: Maynard Manufacturing has a two-week payroll of
Q54: All of the following are examples of
Q55: Use the following information to answer questions
Q56: A line of credit helps a company