Which transactions is not a contingent liability

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Reference no: EM132828385

Problem 1: Which of the following transactions is NOT a contingent liability?

a.) Mark has hired an internal auditor.
b.) A customer has filed a lawsuit for negligence against Mark's company.
c.) A customer has approached Mark regarding an issue with the product warranty.
d.) The state alleges that Mark underpaid his taxes last year.

Reference no: EM132828385

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