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Explain about contingent liabilities. With examples...
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Answers
Answer:
A contingent liability is defined as a liability which may arise depending on the outcome of a specific event. ... Potential lawsuits, product warranties, and pending investigation are some examples of contingent liability
Explanation:
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Answer:
Contingent liabilities related to banks include both explicit guarantees, such as deposit insurance programs, and implicit guarantees, such as guarantees on bank debt that may be provided during a banking crisis.
The outcome of a long-pending lawsuit, a government investigation into organizations affairs, a threat of expropriation etc. some of the common examples of contingent liabilities. Even a warranty be ...
Explanation:
Filtration technique can be used to overcome this as well. Thus, filtration is better than sedimentation and decantation.
Decantation is a process for the separation of mixtures
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