Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What is contingent Liability?

user-image
Question added by Mohammed Waseem Rahim , Accountant , Al Rostamani Trading Company
Date Posted: 2016/07/18
Mohammed Waseem Rahim
by Mohammed Waseem Rahim , Accountant , Al Rostamani Trading Company

contingent liability is a potential obligation that may be incurred depending on the outcome of a future event. A contingent liability is one where the outcome of an existing situation is uncertain, and this uncertainty will be resolved by a future event.

Gayasuddin Mohammed
by Gayasuddin Mohammed , Advocate , Practicing Law before High Court at Hyderabad

Liability accrues on happening of an certain event is called Contingent Liability. Thanks.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.