Which of the following may be a contingent liability?

(A) Sales tax owed

(B) Accrued interest

(C) Future lawsuits claims

(D) Customer deposits

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:

Was this answer helpful?

 
   

0 (0)

(0)
(0)

Choose An Option That Best Describes Your Problem

Thank you. Your Feedback will Help us Serve you better.

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *

*

*

BOOK

Free Class

Ask
Question