Which of the following is not true of contingent liabilities?
a) they result from a past transaction or promise
b) lawsuits and loan guarantees are example
c) they occur in the present
d) they result in some other event takes place
Answer: C
Which of the following is not true of contingent liabilities?
a) they result from a past transaction or promise
b) lawsuits and loan guarantees are example
c) they occur in the present
d) they result in some other event takes place
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.