Examlex
The sum of frictional and structural unemployment is thought of as the
Contingent Liability
A potential financial obligation that may arise in the future depending on the outcome of a specific event.
Reasonably Possible
A term used in accounting and law to indicate that a future event or condition has a chance of occurring.
Liability
A company's financial debt or obligations that arise during the course of its business operations.
Probable Loss
An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.
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