Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Contingent liabilities are those that depend on the outcome of an uncertain ...

In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax ...

A contingent liability is the possibility of a liability arising from a future event. The liability is contingent on whether or not the event occurs. The most common source of contingent liabilities ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

A contingent liability is a potential cost a company may or may not incur in the future. A contingent liability could be a guarantee on a debt to another entity, a lawsuit, a government probe, or even ...