IIA
IIA-CIA-PART3 · Question #268
Which of the following is an example of a contingent liability that a company should record?
The correct answer is C. The threat of a lawsuit by a competitor. You've hit your session limit · resets 10:20pm (America/New_York)
Question
Which of the following is an example of a contingent liability that a company should record?
Options
- AA potential assessment of additional income tax.
- BPossible product warranty costs.
- CThe threat of a lawsuit by a competitor.
- DThe remote possibility of a contract breach.
How the community answered
(67 responses)- A13% (9)
- B3% (2)
- C76% (51)
- D7% (5)
Explanation
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