Contingent liabilities will become actual liabilities depending on:
A)the outcome of a future event.
B)the degree of uncertainty surrounding the outcome of a future event.
C)a decision by the board of directors to record the liability.
D)whether they are probable and estimable.

Question

Quizplus · Accepted Answer

Contingent liabilities depend on the outcome of a future event to determine if they will become actual liabilities.

Contingent Liabilities Will Become Actual Liabilities Depending On