Why are contingent liabilities considered unique and different from all other liabilities? Select one: A....

50.1K

Verified Solution

Question

Accounting

image
Why are contingent liabilities considered unique and different from all other liabilities? Select one: A. Whether or not a company has an obligation depends on the result of a past event. B. The company knows the amount of the obligation. C. Whether or not a company has an obligation depends on the result of a future event. D. The company doesn't know the amount of the obligation

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students