{"id":37099,"date":"2024-06-13T07:29:42","date_gmt":"2024-06-13T07:29:42","guid":{"rendered":"https:\/\/www.greatassignmenthelp.com\/questions\/?p=37099"},"modified":"2024-06-13T07:29:42","modified_gmt":"2024-06-13T07:29:42","slug":"which-of-the-following-situations-is-not-a-contingent-liability","status":"publish","type":"post","link":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/","title":{"rendered":"Which of the following situations is not a contingent liability?"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Which of the following situations is not a contingent liability?<\/p>\n<p>a. Debt guarantee of owner<\/p>\n<p>b. Future natural disaster<\/p>\n<p>c. Possible legal claim against a company<\/p>\n<p>d. Probable legal claim against a company<\/p>\n<p><strong><span lang=\"en-US\">Answer:<\/span> b. Future natural disaster<\/strong><\/p>\n<p><span lang=\"en-US\">A contingent liability is defined as an actual or legal estimate of a liability that may arise from past events. It is confirmed only if one or more contingent events do not happen or happen in the future and are beyond the control of the entity. Of the choices given below a future natural calamity cannot be regarded as contingent liability because it is not the direct outcome of past events and does not involve a probable liability due to the happenings in the past.<\/span><\/p>\n<p><span lang=\"en-US\">However, owners\u2019 liabilities (or potential obligations detailed as option a), legal threats against a company (option c), and likely legal threats against a company (option d), are all examples of contingent assets. These are contingent liabilities that arise where there is an actual possibility of future sacrifice; depending on the occurrence of a certain event, such as the occurrence of a guaranteed \u2018loss\u2019 in the case of a guaranteed debt or an unfavourable outcome in litigation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster c. Possible legal claim against a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following situations is not a contingent liability?<\/title>\n<meta name=\"description\" content=\"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following situations is not a contingent liability?\" \/>\n<meta property=\"og:description\" content=\"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\" \/>\n<meta property=\"og:site_name\" content=\"Questions - Greatassignmenthelp.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Greatassignmenthelpus\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T07:29:42+00:00\" \/>\n<meta name=\"author\" content=\"Jay Cooper\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:site\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jay Cooper\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\"},\"author\":{\"name\":\"Jay Cooper\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\"},\"headline\":\"Which of the following situations is not a contingent liability?\",\"datePublished\":\"2024-06-13T07:29:42+00:00\",\"dateModified\":\"2024-06-13T07:29:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\"},\"wordCount\":209,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\",\"name\":\"Which of the following situations is not a contingent liability?\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\"},\"datePublished\":\"2024-06-13T07:29:42+00:00\",\"dateModified\":\"2024-06-13T07:29:42+00:00\",\"description\":\"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster\",\"breadcrumb\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Which of the following situations is not a contingent liability?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"name\":\"Questions - Greatassignmenthelp.com\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\",\"name\":\"greatassignmenthelp\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"contentUrl\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"width\":159,\"height\":52,\"caption\":\"greatassignmenthelp\"},\"image\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Greatassignmenthelpus\",\"https:\/\/x.com\/assignmentgreat\",\"https:\/\/www.pinterest.com\/greatassignment\/\",\"https:\/\/www.linkedin.com\/company\/great-assignment-help\/\",\"https:\/\/www.instagram.com\/greatassignmenthelp\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\",\"name\":\"Jay Cooper\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"caption\":\"Jay Cooper\"},\"sameAs\":[\"https:\/\/www.greatassignmenthelp.com\/questions\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Which of the following situations is not a contingent liability?","description":"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following situations is not a contingent liability?","og_description":"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster","og_url":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/","og_site_name":"Questions - Greatassignmenthelp.com","article_publisher":"https:\/\/www.facebook.com\/Greatassignmenthelpus","article_published_time":"2024-06-13T07:29:42+00:00","author":"Jay Cooper","twitter_card":"summary_large_image","twitter_creator":"@assignmentgreat","twitter_site":"@assignmentgreat","twitter_misc":{"Written by":"Jay Cooper","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#article","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/"},"author":{"name":"Jay Cooper","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e"},"headline":"Which of the following situations is not a contingent liability?","datePublished":"2024-06-13T07:29:42+00:00","dateModified":"2024-06-13T07:29:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/"},"wordCount":209,"commentCount":0,"publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/","name":"Which of the following situations is not a contingent liability?","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website"},"datePublished":"2024-06-13T07:29:42+00:00","dateModified":"2024-06-13T07:29:42+00:00","description":"Which of the following situations is not a contingent liability? a. Debt guarantee of owner b. Future natural disaster","breadcrumb":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/which-of-the-following-situations-is-not-a-contingent-liability\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.greatassignmenthelp.com\/questions\/"},{"@type":"ListItem","position":2,"name":"Which of the following situations is not a contingent liability?"}]},{"@type":"WebSite","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","name":"Questions - Greatassignmenthelp.com","description":"","publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization","name":"greatassignmenthelp","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","contentUrl":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","width":159,"height":52,"caption":"greatassignmenthelp"},"image":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Greatassignmenthelpus","https:\/\/x.com\/assignmentgreat","https:\/\/www.pinterest.com\/greatassignment\/","https:\/\/www.linkedin.com\/company\/great-assignment-help\/","https:\/\/www.instagram.com\/greatassignmenthelp"]},{"@type":"Person","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e","name":"Jay Cooper","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","caption":"Jay Cooper"},"sameAs":["https:\/\/www.greatassignmenthelp.com\/questions"]}]}},"_links":{"self":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/37099"}],"collection":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/comments?post=37099"}],"version-history":[{"count":1,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/37099\/revisions"}],"predecessor-version":[{"id":37100,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/37099\/revisions\/37100"}],"wp:attachment":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/media?parent=37099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/categories?post=37099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/tags?post=37099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}