CONTINGENCY Definition

Bookmark and Share

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.

Learn new Accounting Terms

LABOR INTENSIVE is used to describe industries or sectors of the economy that relies relatively heavily on inputs of labor, usually relative to capital but sometimes to human capital or skilled labor, compared to other industries or sectors.

PESO ORO is a currency of Colombia, and the Dominican Republic.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.