What is the difference between a contingent liability and a commitment?
What will be an ideal response?
A contingent liability is an existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved by some future event. A commitment is an agreement made by the entity to a set of fixed conditions. The conditions in a commitment are specified in advance.
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As a general rule, a promise must be supported by consideration. Describe any two exceptions to this rule
Which of the following statements is true about the use of IT in nonprofit organizations?
A) Nonprofit organizations have no shareholders and do not require a dedicated IT strategy. B) Nonprofit organizations do not require significant IT support unless they are transformational in nature. C) Nonprofit organizations need IT support and strategy to achieve their objectives. D) Nonprofit organizations need not invest in IT if their organization objectives are not directly related to IT.
Because neural network applications cannot always explain why they arrive at a particular solution, they are not well suited for use in the medical profession
Indicate whether the statement is true or false
The second decision making step is ________
a. isolate the facts b. list alternatives c. decide and act d. identify the goal(s) to be achieved and the decision to be made