What is meant by a contingent liability?

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College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

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Question Posted: Aug 15, 2023 06:21 AM

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What is meant by a contingent liability?

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A contingent liability refers to a potential obligation or liability that may or may not arise in the future depending on the outcome of uncertain eve...View the full answer

College Accounting A Practical Approach Chapters 1-25

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