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Variations among companies in the application of generally accepted accounting principles may reduce True O False Question 5 A contingent liability is a liability that
Variations among companies in the application of generally accepted accounting principles may reduce True O False Question 5 A contingent liability is a liability that may occur if some future event takes place. O True CO False Question 6 Par value O is established for a share of stock after it is issued. O is an arbitrary value assigned per share in the corporate charter. represents what a share of stock is worth
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