- CFA Exams
- CFA Level I Exam
- Study Session 7. Financial Reporting and Analysis (2)
- Reading 22. Understanding Balance Sheets
- Subject 1. Components and Format of the Balance Sheet
CFA Practice Question
What are potential liabilities of a company such as possible damage awards due to lawsuits?
A. Commitments
B. Contingencies
C. Accrued liabilities
Explanation: Contingencies are potential liabilities of a company, including possible damage awards from lawsuits.
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