| 单词 | contingent liability |
| 释义 | contingent liability A liability that, at a balance sheet date, can either not be measured or can only be anticipated to arise if a particular event occurs. Typical examples include a court case pending against the company, the outcome of which is uncertain, or loss of earnings as a result of a customer invoking a penalty clause in a contract that may not be completed on time. Under the Companies Act 1985, such liabilities must be explained by a note on the company balance sheet. |
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