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Match Each of the Following Terms Pertaining to Liabilities to Their

Question 181

Multiple Choice

Match each of the following terms pertaining to liabilities to their definitions.
-A liability that involves an existing condition for which the outcome is not known with certainty and depends on some future event.


A) Current liability
B) Accounts payable
C) Notes payable
D) Discount on notes payable
E) Current maturities of long-term liabilities
F) Accrued liabilities
G) Contingent liability
H) Estimated liability

Correct Answer:

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