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1586 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

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Contingent asset

Accounting
Also called: Contingent assets

A possible asset arising from a past event whose existence depends on an uncertain future event.

In plain terms

The mirror of a contingent liability, and deliberately not symmetrical. A liability is provided for when an outflow is probable; an asset is recognised only when realisation is virtually certain.

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Indian stock market glossary · Market Vidyalaya