Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “contingent liability”

contingent liability

noun [C]
 
 
(plural contingent liabilities) (also contingency liability)
ACCOUNTING a debt which may occur in the future if particular events or situations happen, and which is included in a company's financial records: The company had kept its shareholders informed about the risk of losing the appeal and had carried the £7m as a contingent liability in its accounts.
(Definition of contingent liability from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of contingent liability?
Add Cambridge dictionaries to your browser to your website

Word of the Day

beer mat

a small piece of cardboard that you put under a glass to protect a table surface in a pub or bar

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More