Solved

If a Liability Is Dependent on a Future Event, It

Question 13

Multiple Choice

If a liability is dependent on a future event, it is called a

A) potential liability.
B) hypothetical liability.
C) probabilistic liability.
D) contingent liability.

Related Questions

Q8: Marin Company sells 9,000 units of its

Q9: Larson Company has 20 employees who each

Q10: In concept, the estimating of Warranty Expense

Q11: An employer's estimated cost for postretirement benefits

Q12: Repair costs incurred in honoring warranty contracts

Q14: A contingent liability is a liability that

Q15: In a defined-contribution plan, an employer only

Q16: Which of the following items would not

Q17: Marin Company sells 9,000 units of its

Q18: Disclosure of a contingent liability is usually