A contingent liability is a liability that may materialize in the future because of something that happened in the past
Indicate whether the statement is true or false
T
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When Gregory was questioned by the police officer after witnessing a car accident, he was asked several questions that required “yes” and “no” replies. Which type of questions were these?
A. open-ended B. leading C. closed-ended D. loaded
A force rapidly driving change in organizations is ______.
A. agility B. flexibility C. technology D. communication
Which of the following sequences is the normal sequence of flow of accounting data?
A) Ledger ? Journal ? Source document B) Journal ? Source document ? Ledger C) Source document ? Journal ? Ledger D) Source document ? Ledger ? Journal
The Income Tax Preparation report:
A. Provides detailed information about the income and expenses B. Summarizes income and expenses that should be listed on a business income tax return C. Lists the assigned tax line for each account D. All the choices are correct