A Contingent Liability Is Defined as A A) I;
B) II;
C) III;
D) IV

A contingent liability is defined as a: $\begin{array}{llll}&I&II&III&IV\\\text { possible obligation that arises from past }&\text { Yes } & \text { Nes } & \text { No } & \text { No } \\\text { events }\\\text { possible obligation whose existence will be }&\text { Yes } & \text { No } &\text { Yes } & \text { No }\\\text { confirmed by the occurrence of an uncertain }\\\text { future event }\\\end{array}$

A) I;
B) II;
C) III;
D) IV.

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