Accountancy, asked by tafweezaa2406, 3 months ago

What is contigent liability

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Answered by Anonymous

Answer:

A contingent liability is a liability or a potential loss that may occur in the future depending on the outcome of a specific event. Potential lawsuits, product warranties, and pending investigation are some examples of contingent liability.

Answered by cev

it is a liability that may occur in the future depending on the outcome of a specific event

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