Tag Archives: Contingent liability
Contingent liability | Meaning | Example
Contingent liability is a liability that ‘may’ occur depending on the outcome of a certain event. It is a provision or reserve to meet an unforeseen event which might end up being a liability. For example: Your friend needs a … Continue reading
Posted in Accountancy
Tagged Contingent liability, Examples, Liabilities, Meaning, Provision, Reserve
Leave a comment