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Marquise Dorcent
on Nov 18, 2024

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Event is remote and amount is estimable

Contingent Liability

A potential financial obligation that may arise in the future depending on the outcome of a specific event.

Remote

Pertaining to work or activities done away from a central office or location, often implying the use of technology to facilitate communication and task completion.

Estimable

The ability to be estimated or quantified, often used in contexts where financial figures or outcomes need to be projected or approximated.

  • Ascertain and use correct accounting treatments for contingent liabilities.
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AG
ANISH GuptaNov 24, 2024
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