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Meaning of "contingent liability" in the English dictionary

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DICTIONARY
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PRONUNCIATION OF CONTINGENT LIABILITY

contingent liability  [kənˈtɪndʒ ənt ˌlaɪəˈbɪlɪtɪ] play
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GRAMMATICAL CATEGORY OF CONTINGENT LIABILITY

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Contingent liability is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES CONTINGENT LIABILITY MEAN IN ENGLISH?

Contingent liability

Contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of a uncertain future event such as a court case. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome. A footnote to the balance sheet may describe the nature and extent of the contingent liabilities. The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable.

Definition of contingent liability in the English dictionary

The definition of contingent liability in the dictionary is a possible liability that is dependent on the outcome of a future event.

WORDS THAT RHYME WITH CONTINGENT LIABILITY


ability
əˈbɪlɪtɪ
accessibility
əkˌsɛsɪˈbɪlɪtɪ
accountability
əˌkaʊntəˈbɪlɪtɪ
availability
əˌveɪləˈbɪlɪtɪ
capability
ˌkeɪpəˈbɪlɪtɪ
compatibility
kəmˌpætɪˈbɪlɪtɪ
disability
ˌdɪsəˈbɪlɪtɪ
durability
ˌdjʊərəˈbɪlɪtɪ
eligibility
ˌɛlɪdʒɪˈbɪlɪtɪ
flexibility
ˌflɛksɪˈbɪlɪtɪ
inability
ˌɪnəˈbɪlɪtɪ
liability
ˌlaɪəˈbɪlɪtɪ
mobility
məʊˈbɪlɪtɪ
nobility
nəʊˈbɪlɪtɪ
possibility
ˌpɒsɪˈbɪlɪtɪ
probability
ˌprɒbəˈbɪlɪtɪ
reliability
rɪˌlaɪəˈbɪlɪtɪ
responsibility
rɪˌspɒnsəˈbɪlɪtɪ
stability
stəˈbɪlɪtɪ
visibility
ˌvɪzɪˈbɪlɪtɪ

WORDS THAT BEGIN LIKE CONTINGENT LIABILITY

contingence
contingencies
contingency
contingency fee
contingency fund
contingency plan
contingency planning
contingency reserve
contingency table
contingent
contingently
continua
continuable
continual
continuality
continually
continualness
continuance
continuant
continuate

WORDS THAT END LIKE CONTINGENT LIABILITY

agility
credibility
facility
feasibility
fertility
functionality
hostility
humility
inevitability
instability
merchantability
profitability
suitability
susceptibility
sustainability
tranquility
usability
utility
variability
versatility
vulnerability

Synonyms and antonyms of contingent liability in the English dictionary of synonyms

SYNONYMS

Translation of «contingent liability» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF CONTINGENT LIABILITY

Find out the translation of contingent liability to 25 languages with our English multilingual translator.
The translations of contingent liability from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «contingent liability» in English.

Translator English - Chinese

或有负债
1,325 millions of speakers

Translator English - Spanish

pasivo contingente
570 millions of speakers

English

contingent liability
510 millions of speakers

Translator English - Hindi

आकस्मिक देयता
380 millions of speakers
ar

Translator English - Arabic

الالتزامات الطارئة
280 millions of speakers

Translator English - Russian

условное обязательство
278 millions of speakers

Translator English - Portuguese

passivo contingente
270 millions of speakers

Translator English - Bengali

সাপেক্ষ দায়
260 millions of speakers

Translator English - French

passif éventuel
220 millions of speakers

Translator English - Malay

Liabiliti luar jangka
190 millions of speakers

Translator English - German

Eventualverbindlichkeit
180 millions of speakers

Translator English - Japanese

偶発債務
130 millions of speakers

Translator English - Korean

우발 부채
85 millions of speakers

Translator English - Javanese

Kewajiban kontingen
85 millions of speakers
vi

Translator English - Vietnamese

trách nhiệm đội ngũ
80 millions of speakers

Translator English - Tamil

கட்டுப்பாட்டு பொறுப்பு
75 millions of speakers

Translator English - Marathi

आकस्मिक उत्तरदायित्व
75 millions of speakers

Translator English - Turkish

koşullu yükümlülük
70 millions of speakers

Translator English - Italian

passività potenziale
65 millions of speakers

Translator English - Polish

zobowiązanie warunkowe
50 millions of speakers

Translator English - Ukrainian

умовне зобов´язання
40 millions of speakers

Translator English - Romanian

datorie contingentă
30 millions of speakers
el

Translator English - Greek

ενδεχόμενη υποχρέωση
15 millions of speakers
af

Translator English - Afrikaans

voorwaardelike aanspreeklikheid
14 millions of speakers
sv

Translator English - Swedish

eventualförpliktelse
10 millions of speakers
no

Translator English - Norwegian

betinget forpliktelse
5 millions of speakers

Trends of use of contingent liability

TRENDS

TENDENCIES OF USE OF THE TERM «CONTINGENT LIABILITY»

The term «contingent liability» is regularly used and occupies the 73.871 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Regularly used
66
/100
The map shown above gives the frequency of use of the term «contingent liability» in the different countries.
Principal search tendencies and common uses of contingent liability
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «contingent liability».

FREQUENCY OF USE OF THE TERM «CONTINGENT LIABILITY» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «contingent liability» during the past 500 years. Its implementation is based on analysing how often the term «contingent liability» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about contingent liability

EXAMPLES

10 ENGLISH BOOKS RELATING TO «CONTINGENT LIABILITY»

Discover the use of contingent liability in the following bibliographical selection. Books relating to contingent liability and brief extracts from same to provide context of its use in English literature.
1
Contingent Liability in Banking: Useful Policy for ...
Useful Policy for Developing Countries? Anthony Saunders, Berry Wilson. Double liability was abandoned for at least three reasons. First, it had failed to prevent bank runs and spill-over effects and provide banking stability, particularly during ...
Anthony Saunders, Berry Wilson, 1995
2
Financial Accounting: The Impact on Decision Makers
Premiums or Coupons: Other Contingent Liabilities That Are Recorded Warranties provide an example of a contingent liability that must be estimated and recorded. Another example is premium or coupon offers that accompany many products.
Gary Porter, Curtis Norton, 2010
3
Federal and State Taxation of Limited Liability Companies (2009)
However, the member's capital account is reduced by the value of the contingent liability. This is the amount of cash that a willing assignor would pay to a willing assignee in an arm's-length transaction to assume the liability." As a result of the  ...
David J. Cartano, 2008
4
Contingent Liability Management: A Study on India
By focusing mostly on external-sector related contingent liabilities that involve possible financial transactions with non-residents, the document defines a framework for use in quantifying contingent liabilities, which can be adapted to ...
Tarun Das, Commonwealth Secretariat, Anil Bisen, 2002
5
Auditing: Principles and Practice
CONTINGENT LIABILITIES Contingent liability, as the expression indicates, means an obligation that is dependent on something that may or may not happen or which is uncertain. Simply stated, it is not a real liability but will become a liability ...
RAVINDER KUMAR, VIRENDER SHARMA, 2011
6
Financial Accounting for Business Engineers
A contingent liability is: (a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise;  ...
Asish K. Bhattacharyya, 2005
7
Opportunities for Improvements in FDIC's Internal Controls ...
For those institutions identified as probable failures at year end that also participate in the TAG program, a separate contingent liability is recorded for the amount of TAG deposits over the regular $250,000 deposit insurance. The contingent ...
Steven Sebastian, 2011
8
Management Report: Opportunities for Improvements in FDIC’s ...
FDIC records a contingent liability and loss provision for DIF-insured institutions that are likely to fail within 1 year of the financial statement reporting date, absent some favorable event such as obtaining additional capital or merging, when the ...
Steven J. Sebastian, 2008
9
Auditing and Assurance
15.15.1 Meaning of Contingent Liability According to AS-29, a contingent liability is: (i) A possible obligation that arises from past events and the existence of which will be confirmed only by the occurrence or non-occurrence of one or more  ...
Ainapure/ainapure
10
Using Financial Accounting Information: The Alternative to ...
Contingent liability An existing condition for which the outcome is not known but depends on some future event. Alternate term: Contingent loss. STUDY TIP Contingent liabilities are recorded only if they are probable and if the amount can be ...
Gary Porter, Curtis Norton, 2012

10 NEWS ITEMS WHICH INCLUDE THE TERM «CONTINGENT LIABILITY»

Find out what the national and international press are talking about and how the term contingent liability is used in the context of the following news items.
1
Form 10-Q Merecot Corp. For: Mar 31
... then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. «StreetInsider.com, Jul 15»
2
Provincial News: Province Of Ontario Downgraded To 'A+' From 'AA …
In our view, this will materially reduce the province's contingent liability exposure, but not eliminate it, given the utility's essential nature and that ... «NorthumberlandView.ca, Jul 15»
3
After 20-month delay, a furious Newegg still can't appeal $2.3M …
"A $2.3 million contingent liability is equivalent to dozens of full-time salaries and employment opportunities lost," Newegg notes in today's filing ... «Ars Technica, Jul 15»
4
INVESTEC CAPITAL ACCUMULATOR TRUST LIMITED - Statement …
During the initial phase of the liquidation the Liquidators identified a potential contingent liability which has, until now prevented the approval of ... «Stockhouse, Jul 15»
5
ONGC, foreign partners lose tax appeal
The court also rejected the argument of the accused persons that as the cheque was issued as security in respect of a contingent liability, the ... «Business Standard, Jul 15»
6
Can Utusan stop financial bleeding in the next 2-3 years …
Interestingly, Utusan said it does not recognise contingent liability in its financial account, as it consider lawsuits to not necessarily or ... «The Malaysian Insider, Jul 15»
7
Pakistan's New Military Budget: By the Numbers-Shane Mason
... the outstanding guarantees to Public Sector Enterprises (PSEs) under the contingent liability fund exceeds $5.9 billion. While the government ... «JK Alternative Viewpoint, Jul 15»
8
More than money matters
If there are uncertainties and questions over good governance, and if the contingent liability figure is great, then people become worried. «The Star Online, Jul 15»
9
Stronger ringgit by year-end?
... state of public finance – contingent liability, fiscal position and government debt levels – and these structural issues are not to be taken lightly. «The Star Online, Jul 15»
10
TWEET OF THE WEEK: A political party in the making
... believed that police were corrupt); a war with the courts (by 2013, claims against the police represented a contingent liability of about R15bn); ... «BDlive, Jul 15»

REFERENCE
« EDUCALINGO. Contingent liability [online]. Available <https://educalingo.com/en/dic-en/contingent-liability>. Apr 2024 ».
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