CONTINGENT LIABILITY is: (a) A possible obligation from past events that 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; or (b) A present obligation from past events but is not recognized because (i) it is not probable that an outflow of resources will be required to settle the obligation; or (ii) the obligation cannot be measured reliably. Some examples: in corporate reports are pending lawsuits, judgments under appeal, disputed claims, and the like, representing potential financial liability.
BPO, dependent upon usage, could mean Business Process Outsourcing, Business Process Optimization, Blanket Purchase Order, Broker Price Opinions, Business Process Object, or Bank Payment Order.
EQUIPMENT TRUST CERTIFICATE is a bond that is secured by a first claim (lien) on certain equipment. The title to the equipment is held in trust until the bond is paid off.
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