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Contingent Liability
A potential financial obligation that may arise in the future, dependent on the outcome of a specific event or set of circumstances.
Probable
A term signifying a high likelihood or certainty that a future event will occur.
Estimable
Capable of being approximated or determined in value, often referring to an amount or value in accounting.
Contingent Liability
A potential financial obligation that may arise in the future depending on the outcome of a specific event.
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