CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which of the following may be a contingent liability?


A

Sales tax owed

No worries! We‘ve got your back. Try BYJU‘S free classes today!
B

Accrued interest

No worries! We‘ve got your back. Try BYJU‘S free classes today!
C

Future lawsuits claims

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D

Customer deposits

No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is C

Future lawsuits claims


Answer (C): Future lawsuits claims

Explanation: A future lawsuit is a contingent liability that might happen contingent upon the result of a dubious future occasion. An unforeseen obligation is recorded if the possibility is logical and the measure of the risk can be sensibly assessed.

Also see:


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Sole Proprietorship and Partnership
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon