What is a guarantee? How can a guarantee be revoked or discharged

Q: What are Contingent Liabilities?  Give an example.  What are the factors that determine the reason…

A: A liability, the occurrence of which is uncertain that is it may or may not occur is known as a…

Q: The claims issued by the DSU are called premiums. It is true or false?

A: Answer: false

Q: Why onerous contracts are considered as a provision, even though they do not always come with a high…

A: Onerous contract is the contract that would cost the business more to fulfill than what the company…

Q: Which of the following must be provided to every potential buyer of a new security?a. A letter of…

A: Option c is the correct option.

Q: What is a derivative security?

A: Financial Instruments: It represents assets that are traded in the financial markets and are…

Q: How are contingent liabilities accounting for? a) In your own word, what is a contingent liability?…

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: What is the effect of the fulfillment of the condition in a conditional obligation? resolutory…

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

Q: 1. What type of trust is applicable in thì situation?

A: A trust is an arrangement which gives the trustee to hold assets placed in the trust. He can act on…

Q: Describe the Rights of the Surety.

A: A surety is a person or entity that takes on the risk of another party defaulting on their debts or…

Q: Which of the options is an example of liability?

A: Liability is something a company  or person owes, usually a sum of money.  It denotes an obligation…

Q: For most long-term liabilities, an important consideration is that they are properly authorized.…

A: The long term liability is reported as a long term because they covers many years and the majority…

Q: A type of risk where the issuer of the security will not pay interest or principal. *

A: Risk is defined as the probability with which an outcome or an investment in a security's actual…

Q: True or False? 1. An insurance contract is derecognized when it is extinguished and when it is…

A: An insurance contract is a contract between the two parties where one party promises to pay the…

Q: When can a gift causa mortis be voided?

A: Gift causa mortis is a gift of personal property and this gift the underlying belief or expectation…

Q: How are the terms “probable,” “reasonably possible,”and “remote” related to contingent liabilities?

A:

Q: When an obligation is subject to an obligation, the moment the condition is fulfilled, the…

A: The following statement is True... When an obligation is subject to an obligation, the moment the…

Q: What Constitutes Default?

A: When an individual or a company is unable to pay the loan amount then it's termed as default. It…

Q: How contract is discharged by subsequent impossibility?

A: Discharge of agreement or contract implies the end of the authoritative connection between the…

Q: What is the fair value option? Briefly describe the controversyof applying the fair value option to…

A: Meaning of fair value option:

Q: What is a contingent liability?

A: Liabilities are legitimately restricting commitments that are payable to someone else. In accounting…

Q: in a conditional

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

Q: Why would an insured inflate claims and who are the ones to suffer for it?

A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…

Q: What is the difference between an unconditional promise to give and an intention to give?

A:

Q: Contingent liabilities are obligations that may or may not materialize

A: Contingent liabilities are obligations that may or may not materialize will be explained:

Q: Should a firm insure itself against all insurable risks that it faces? Explain.

A: Solution:- An Insurable risk is a risk which fulfills the criteria for insurance.For a risk to be…

Q: What is meant by unlimited liability?

A: Unlimited liability refers to the full legal responsibility that business owners and partners assume…

Q: Is there any exception to the rule that the particular motives of the parties in entering into a…

A: A motive is a purely personal or private reason which a party has in entering into a contract. The…

Q: How is internal control applied to liabilities?

A: It is often seen that frauds, employees thefts, and manipulation of records incur in the…

Q: Which of the following liabilities would be considered nonrecourse?

A: "As the student have not been given the options to choose the nonrecourse liabilities, I will give…

Q: how is it possible that the avoidable interest can exceed the actual interest

A: Interest Cost: The cost charged on the borrowings financed by the lender to the company is known as…

Q: Choose the correct. Which of the following must be provided to every potential buyer of a new…

A: New security are issued by the companies which are required of capital. This securities are issued…

Q: What is meant by issue of debentures as collateral Security?

A: Collateral is an asset or property that is given by a borrower to lender to secure the loan.…

Q: What is the relationship between provisions, onerous contracts, contingent liabilities and other…

A: The book in which the company records all its transactions initially is termed as journal book. From…

Q: What is participating in insurer management? What is treaty reinsurance? What is facultative…

A: Participating Policy: When a policyholder receives a dividend, such types of an insurance contract…

Q: Which of the following is not a secondary mode of extinguishing obligations? * Changing the object…

A: Primary obligations is prescription Which means time limit to sue in the court of law.  prescription…

Q: When are losses in noncurrent security investments recognized?

A: Noncurrent security investments are held for more than 1 year.

Q: 1. Insurable interest refers to O A. the item to be insured should be legal and not against public…

A: Insurable Interest forms subject matter of all insurance policies and is defined as follows

Q: True (t) or False (f) _____ Contingent liabilities should be recorded in the accounts if there is a…

A: The contingent liability represents the obligation that arise in the organization due to its past…

Q: How is certificate of deposit beneficial?

A: A certificates of deposit basically are a sort of the financial savings account that holds a sure…

Q: Explain the difference between commutative contract and non-commutative contract. Why Insurance is…

A: COMMUTATIVE CONTRACT In Arabic aqd mu'awadha, it is a type of compensatory contract whereby one…

Q: Which of the following is also called a "liability waiver"? confidentiality clause noncompete…

A: An obligation or a liability is something an individual or organization owes, it usually includes…

Q: How does title insurance work? Why is it not absolute (fool-proof

A: Title insurance is that insurance product that is related to the world of real estate. It is an…