CONTINGENCY Definition

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CONTINGENCY is an existing condition involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) that will be resolved by future events. Estimates, such as the useful life of an asset, are not contingencies. Eventual expiration of the asset's utility is not uncertain.

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TOP-LINE of a company is its gross sales, or revenue figure.

TRADE DISCOUNT is a producer discount given to retail trade members to assist them in increasing sales of the producers product.

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