A contingent liability:
a. is only remotely possible.
b. cannot be estimated.
c. will result from a future event.
d. is a potential liability that has arisen because of a past event or transaction.
e. will only result when a remote event becomes probable.
f. is remotely estimable and probable.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A contingent liability: a. is only remotely possible. b. cannot be estimated. c. will result from a future event. d. is a potential ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What does the government spend half the United States budget on?
Answers (1)
At the end of an accounting period, the costs assigned to a production department can be split into the cost of units fully completed and transferred out, and the cost of units partially completed and remaining in the Work-in-Process Inventory of
Answers (1)
In which investment category are fair values and subsequent growth of an investee not relevant for reporting? Securities reported under the equity method. Securities available for sale. Held-to-maturity securities. Trading securities.
Answers (1)
offers a 6.3 percent bond with a current market price of $767.50. The yield to maturity is 8.49 percent. The face value is $1,000. Interest is paid semiannually. How many years is it until this bond matures
Answers (2)
2.) Since 2005, publicly traded companies in the European Union have been required to use IFRS in preparing their consolidated financial statements. a.) Explain the EU's objective in requiring the use of IFRS. b.
Answers (1)
New Questions in Business
Currently, the House Types field is in the Row Labels area, the Real Estate Agent field is in the Column Labels area, and Sum of List Prices is in the Values area.
Answers (1)
Nash's Trading Post, LLC has assets of $4200000, common stock of $1000000, and retained earnings of $600000. What are the creditors' claims on their assets?
Answers (1)
artin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That bequest will provide $ 1 comma 000 in the first year, and will grow by 7 % per year, forever.
Answers (1)
Vertis Corporation is interested in cutting the amount of time between when a customer places an order and when the order is completed. Details for the first quarter of the year are provided here. Choose the correct answer from the options provided.
Answers (1)
A company purchased factory equipment on April 1, 2013 for $80,000. It is estimated that the equipment will have an $10,000 salvage value at the end of its 10-year useful life.
Answers (2)