Question: A contingent liability is: 0 0 : 1 6 : 5 5 Multiple Choice An obligation that will never require a future payment. Always of

A contingent liability is:
00:16:55
Multiple Choice
An obligation that will never require a future payment.
Always of a specific amount.
An obligation arising from a future event.
A potential obligation that depends on a future event arising from a past transaction or event.
An obligation arising from the purchase of goods or services on credit.
A contingent liability is: 0 0 : 1 6 : 5 5

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