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What Is a Contingent Liability? Provide Two Examples of Contingencies

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What is a contingent liability? Provide two examples of contingencies.


Definitions:

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Group Projects

Educational or work-related tasks undertaken by a team of individuals collaborating towards a common goal.

Malingering

Intentional production of false or exaggerated symptoms to achieve external benefits such as avoiding work or obtaining drugs.

Door-In-The-Face

A persuasion technique where an initial, large request is made knowing it will be refused so that a smaller, more moderate request will be accepted.

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