Which of the following statements is false?
a. a contingent liability is a potential obligation that depends on the future outcome of past events.
b. a contingent liability should be disclosed in the notes to the financial statements if there is a reasonable possibility that a loss (or expense) will occur.
c. a contingent liability should be accrued if the loss is probable and the amount of the loss can be reasonably estimated.
d. all contingent liabilities should be reported as liabilities on the financial statements, even those that are unlikely to occur.

Tony prince is the project manager for the recreation and wellness intranet project. team members include you, a programmer/analyst and aspiring project manager; patrick, a network specialist; nancy, a business analyst; and bonnie, another programmer/analyst. other people are supporting the project from other departments, including yusaff from human resources and cassandra from finance. assume that these are the only people who can be assigned and charged to work on project activities. recall that your schedule and cost goals are to complete the project in six months for under $200,000.task 2identify at least eight milestones for the recreation and wellness intranet project. write a short paper describing each milestone using the smart criteria. discuss how determining these milestones might add activities or tasks to the gantt chart. remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone.