Accounting · Financial Statements

Which of the following is considered an example of a Contingent Liability?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Guarantee given for loans✓
2Outstanding expenses
3Prepaid expenses
4Sundry creditors

Correct answer

Guarantee given for loans

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Which of the following is considered an example of a Contingent Liability?

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Which of the following is considered an example of a Contingent Liability?

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