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State whether you believe each of the liabilities listed below is determinable, estimable, or contingent. 1. 2. An automobile company recalled a particular car model
State whether you believe each of the liabilities listed below is determinable, estimable, or contingent. 1. 2. An automobile company recalled a particular car model because of a possible problem with the brakes. The company will pay to replace the brakes. A large retail store has a policy of refunding purchases to dissatisfied customers under a widely advertised "money-back, no questions asked" guarantee. A manufacturer offers a three-year warranty at the time of sale. 3. 4. 5. To promote sales, a company offers prizes (such as a chance to win a trip) in return for a specific type of bottle cap. A local community has filed suit against a chemical company for contamination of drinking water. The community is demanding compensation, and the amount is uncertain. The company is vigorously defending itself.
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