CONTINGENT ASSET Definition

CONTINGENT ASSET is a possible asset from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise.

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FLAT BOND is a bond in default that is quoted and traded without any consideration for accrued interest.

PERPETUAL is a fixed income security with no maturity date, such as a preferred stock with no sinking fund.

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