Which statement about contingencies is correct?
A)It involves only potential economic outflows of resources.
B)It is a possible condition that depends upon the outcome of a future event.
C)It involves uncertainty about either the timing or amount of payment.
D)It is an existing condition that depends upon the outcome of a future event.

Question

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The Answer of Which statement about contingencies is correct?
A)It involves only potential economic outflows of resources.
B)It is a possible condition that depends upon the outcome of a future event.
C)It involves uncertainty about either the timing or amount of payment.
D)It is an existing condition that depends upon the outcome of a future event.

Which Statement About Contingencies Is Correct