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which one of the following would be considered a contingent liability? select one: a. a company estimates that it will probably have to pay $75,000 to the epa for a chemical spill. b. a company owes $35,000 on inventories purchased on credit. c. a company has access to a line of credit with a bank in the amount of $120,000. d. a company believes that it is reasonably possible it will lose a lawsuit and damages could be $100,000. e. none of the above

Answer :

a. A company estimates that it will probably have to pay $75,000 to the EPA for a chemical spill.

A chemical substance is a shape of count number having constant chemical composition and characteristic homes.[1][2] some references upload that chemical substance can not be separated into its constituent elements via physical separation strategies, i.e., without breaking chemical bonds.[3] Chemical substances may be easy substances (substances which includes a unmarried chemical element),[4] chemical substances, or alloys. Chemical materials are regularly referred to as 'natural' to set them apart from combinations. A not unusual instance of a chemical substance is pure water; it has the same properties and the equal ratio of hydrogen to oxygen whether it's miles remoted from a river or made in a laboratory.

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