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1492 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 liability

Accounting
Also called: Contingent liabilities

An obligation that may arise depending on a future event — tax disputes, guarantees, litigation.

In plain terms

Not on the balance sheet. If the total exceeds net worth, a material risk is hiding in a footnote.

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Indian stock market glossary · Market Vidyalaya