Explain the difference between a liability and a contingent liability.

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Financial Accounting An Integrated Approach

ISBN: 9780170411028

7th Edition

Authors: Ken Trotman, Elizabeth Carson

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Question Posted: Aug 23, 2023 02:20 AM

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Explain the difference between a liability and a contingent liability.

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Both liabilities and contingent liabilities are terms used in accounting and finance to describe obligations a company might have but they differ in t...View the full answer

Financial Accounting An Integrated Approach

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