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What is contingency thinking?

Updated: 10/27/2022
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9y ago

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Contingency thinking is when a task in performed in a different manner from the normal routine. This is using a different approach so as to get better results.

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9y ago
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11y ago

understanding that accidents, or chance events, can affect history.

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What is the contrast between gain contingency and loss contingency?

A gain contingency is where a gain will incur if certain future events incur or not occur while loss contingency is the posting of a future loss that may result from some event or happening


Use contingency in a sentence in buyig a house?

When buying a house it is always wise to have a contingency fund in order to deal with unexpected expenses.


In real estate what does Ctg stand for?

CTG is an abbreviation for "contingency". The contingency could be a house to sell, house to close, financing, or short sale. This usually means the the seller has accepted a contract based on a contingency. Depending on the type of contingency, and terms of the accepted contract, the seller may have the option to continue to show the property in search for a non contingent offer.


What does the abbreviation CTG stand for in real estate?

Contingency.


What is a 48 hour contingency plan in real estate?

It is usually referred to as a Contingency Clause. This is common if the buyer must sell his current real estate in order to be qualified to purchase the subject property. If they have not negotiated to keep the property off of the market during this time period it is possible someone else may view the property and want to make an offer. The contingency clause protects the seller from an indefinite (or lengthy wait while the buyer tries to sell his property, or find financing). If he receives an acceptable offer from another buyer (buyer # 2) , he can invoke the 48 hour contingency which gives the original buyer 48 hours to commit to buying and risk losing his earnest money if he fails to qualify; or to release the seller from the contract to accept buyer #2's offer.

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What are the accounting journal entries to accrue a contingency payable?

Contingency transations have no entry until contingency not clear and only shown in notes to financial statements.


Why are contingency strategies important?

Contingency strategies are important because sometimes, plans fail. If you have a contingency strategy for your business, then you won't have to start over completely.


What is the contrast between gain contingency and loss contingency?

A gain contingency is where a gain will incur if certain future events incur or not occur while loss contingency is the posting of a future loss that may result from some event or happening


B Why are contingency strategies important?

Contingency strategies are important to the continued success of a company.