Liability which is difficult to quantify, or which may or may not come to pass, such as an outstanding lawsuit.
Related information about contingent liability:
- Contingent liability - Wikipedia, the free encyclopedia
Contingent liabilities are liabilities that may or may not be incurred by an entity depending on the outcome of a future event such as a court case. These liabilities ...
- Contingent Liability Definition | Investopedia
1. The possibility of an obligation to pay certain sums dependent on future events . 2. Defined obligations by a company that must be met, but the probability of ...
- What is a contingent liability? | AccountingCoach.com Q&A
A contingent liability is a potential liability...it depends on a future event occurring or not occurring. For example, if a parent guarantees a daughter's.
- Contingent Liability - Financial Dictionary - The Free Dictionary
A liability that a company may have to pay, but only if a certain future event occurs. Usually, a contingent liability refers to the outcome of a lawsuit: that is, the ...
- What is contingent liability? definition and meaning
Definition of contingent liability: Hypothetical liability which depends on a possible (but hardly likely) event or situation to occur before becoming an actual ...
- GAAP Guidelines for Contingent Liabilities - Wiki | The Motley Fool
Generally Accepted Accounting Principles (GAAP) have specific rules pertaining to how a contingent liability is identified, measured and recorded. Companies ...
- How to Classify Contingent Liabilities - For Dummies
If a contingent liability is probable and the amount of loss that could be sustained is reasonably estimated, the loss is shown on the financial statements by ...
- What are contingent liabilities? - Accounting Questions & Answers ...
Mar 27, 2010 ... A contingent liability is an amount that may be due depending on future events. Because it cannot be determined whether the amount must be ...