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Contingent Liability
A potential obligation that may arise depending on the outcome of a future event.
Recorded
The act of entering financial transactions into the accounting records of a business.
Interest-Bearing Note
A financial instrument that requires the issuer to pay interest in addition to repaying the principal amount at the note's maturity.
Maturity
The date on which a financial obligation, such as a bond or loan, is due to be fully paid off.
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