Which of the following is an example of a contingent liability?

a. A liability for notes payable with interest included in the face amount.
b. The liability for future warranty repairs on computers sold during the current period.
c. A lawsuit pending against a restaurant chain for improper preparation of food.
d. A corporate long-term employment contract with the chief executive officer.

c

Business

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The right of one party to posses and use real property exclusive of others is:

a. hypothecation b. partition c. ownership d. all of the above

Business

Communism and socialism are examples of market economies

Indicate whether the statement is true or false

Business