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Which would be defined as contingent liabilities

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Reference no: EM133011389

Problem 1: Which of these would be defined as contingent liabilities?

I. A loan from a financial institution

II. An unresolved lawsuit brought against the entity for breach of health and safety regulations

III. An agreement to act as guarantor for another firm's borrowings

IV. A bank overdraft

Reference no: EM133011389

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