Aug 8, 2025 · What Is a Contingent Liability? A contingent liability is a potential obligation that hinges on the outcome of future uncertain events.

What is a Contingent Liability? A contingent liability is a potential liability that may or may not occur, depending on the result of an uncertain future event.

What are Contingent Liabilities? Contingent liabilities are a type of liability that may be owed in the future as the result of a potential event. They are, therefore, contingent, on something happening.

Jan 4, 2025 · Contingent liabilities are a common feature of modern business. They are potential liabilities that may arise from past events or from existing conditions, but whose existence will …

Nov 25, 2024 · A contingent liability is a potential obligation that depends on the occurrence or non-occurrence of one or more events in the future. If the event occurs, the company may be …

A contingent liability is a potential liability that may or may not become an actual liability. Whether the contingent liability becomes an actual liability depends on a future event occurring or not …

Jun 23, 2025 · A contingent liability, on the other hand, is a potential obligation that depends on the outcome of a future event and may not be recorded unless it meets certain criteria.

In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event [1] such as the outcome of a pending lawsuit.

Nov 1, 2025 · Contingent liabilities are potential financial obligations that may arise depending on the outcome of a future event. They occupy a critical space in accounting and financial …

Aug 24, 2025 · Learn what contingent liabilities are, their types, rules, and examples, and how they are treated in accounting under GAAP and IFRS.