Multiple Choice
Why are contingent liabilities considered unique and different from all other liabilities?
A) Whether or not a company has an obligation depends on the result of a future event.
B) Whether or not a company has an obligation depends on the result of a past event.
C) The company knows the amount of the obligation.
D) Both B and C are unique to contingent liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
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