What is a contingent liability, and how does it relate to the discounting of a note receivable at the bank?
A contingent liability is a potential liability that may or may not become an actual liability. When a company discounts a note receivable at the bank, the company is contingently liable to the bank upon default by the note's maker.
You might also like to view...
The deregulation of national broadcasting monopolies has affected the promotional strategies of marketers in the European community
Indicate whether the statement is true or false
In a short essay, discuss the importance of the report and its presentation for a marketing research project
What will be an ideal response?
During the first year of operations, a company granted warranties on its products. The estimated cost of the product warranty liability at the end of the year is $8,500 . The product warranty expense of $8,500 should be recorded in the years the expenditures to repair the products covered by the warranty will be paid
Indicate whether the statement is true or false
Sylvia has recently been denied a promotion. This is the third time she was turned down for a promotion despite excellent performance reviews. Her manager assures her that she was qualified for the promotion but "that's just the way things go." After this latest disappointment, Sylvia did an in-depth research on the history of her company. She found that only two women candidates had been promoted to upper management positions in the company's entire history. ________ is the factor that is most likely obstructing Sylvia's career growth.
A. A wide span of control B. The glass-ceiling effect C. A diversity-oriented employer D. An affirmative action E. The black-swan effect