Question

hello everyone.........
what is contingent liability?
kha ho sab log......????
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Answer 1

Answer:

Contingent liabilities are liabilities that may be incurred by an entity depending of an outcome of an uncertain future such as a outcome of a pending lawsuit

Answer 2

Answer:

Contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of uncertain future event such as a outcome of a pending lawsuit.