Question: A possible future obligation that will become a liability only if certain future events occur is An accrued liahjity A contingent liability A discounted liability

A possible future obligation that will become a liability only if certain future events occur is
An accrued liahjity
A contingent liability
A discounted liability
A deferred liability
 A possible future obligation that will become a liability only if

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!