Multiple Choice
Which of the following is an example of a contingent liability?
A) A liability for notes payable with interest included in the face amount
B) The liability for future warranty repairs on computers sold during the current period
C) A lawsuit being threatened but not yet filed against a restaurant chain for improper preparation of food
D) A corporate long-term employment contract with the chief executive officer
Correct Answer:
Verified
Correct Answer:
Verified
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