menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamental Accounting Principles Study Set 1
  4. Exam
    Exam 11: Current Liabilities and Payroll Accounting
  5. Question
    A ________ Is a Potential Obligation That Depends on a Future
Solved

A ________ Is a Potential Obligation That Depends on a Future

Question 124

Question 124

Short Answer

A ________ is a potential obligation that depends on a future event arising from a past transaction or event.

Correct Answer:

verifed

Verified

contingent...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q119: What are known current liabilities? Cite at

Q120: The times interest earned ratio reflects:<br>A) A

Q121: FUTA taxes are:<br>A) Social Security taxes.<br>B) Employee

Q122: Accrued vacation benefits are a form of

Q123: Trey Morgan is an employee who is

Q125: The Federal Insurance Contributions Act (FICA) requires

Q126: An employee earned $4,600 in February working

Q127: A payroll register does not include:<br>A) Hours

Q128: Accounting for contingent liabilities covers three possibilities:

Q129: A _ is a written promise to

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines