In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Contingent liabilities are those that depend on the outcome of an uncertain ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. David Kindness is a Certified Public Accountant (CPA) and an expert in the ...

Loss contingency refers to possible but uncertain losses facing your small business. If someone sues you, you can incorporate the potential damages if you lose as a loss contingency on your financial ...

Contingent consideration represents payments that buyers and sellers will pay or receive after the closing of a transaction based on future performance. While it's possible to have contingently ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...