Contingent Upon has the same meaning as the phrase, depending on. Example: You'll receive your paycheck contingent upon you showing up at work everyday.
"planned for all contingencies"
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The first meaning of a word is referred to as "denotative meaning". This is the dictionary definition. The second meaning of a word is referred to as "connotative meaning". This is not in the dictionary.
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Gain contingencies are not accrued in financial statements. According to accounting principles, gains should only be recognized when they are realized or realizable, meaning there is a high degree of certainty. Therefore, until a gain is certain, it is typically disclosed in the notes to the financial statements rather than being recorded on the balance sheet.
Gain contingencies are recorded when they are realized, meaning that the gain is certain and measurable. Generally, they are not recognized in the financial statements until the realization is assured, such as when a transaction is completed or when specific conditions are met. This conservative approach ensures that potential gains do not inflate financial results prematurely, adhering to the principle of recognizing revenue only when it is earned.
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Organizational contingencies refer to the various internal and external factors that can affect an organization's structure, processes, and overall effectiveness. These factors may include market conditions, technological changes, regulatory environments, and the organization's size and culture. Understanding these contingencies allows leaders to adapt their strategies and operations to better align with the dynamic business landscape. Ultimately, effective management of organizational contingencies can enhance resilience and performance.
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Contingencies and commitments refer to financial obligations and potential liabilities an organization may face. Contingencies are uncertain future events that could impact financial statements, such as lawsuits or warranty claims, while commitments are binding agreements or contracts to make future payments or expenditures, like lease agreements or purchase orders. Both concepts are important for financial planning and reporting, as they help assess the potential risks and obligations an entity may encounter. Proper management of contingencies and commitments is crucial for maintaining financial stability and transparency.
When the status on a property is listed as "Contingent w/no kick-out" (CNKO) it means that an offer has been presented to the seller with contingencies, and if those contingencies are not satisfied, then the seller may take another offer. A "kick-out" clause is sometimes used if a seller wants to reserve the option to accept a better offer, once the property is under contract. A "no kick-out" clause means that the seller relinquishes this option once his/her home is under contract. So, in your example "Contingent w/no kick-out" means that the seller has accepted an offer with contingencies, but cannot accept another offer unless those contingencies are not satisfied.
E. F. Spurgeon has written: 'Life contingencies'
Flexibility
Flexibility
Flexibility
more than likely, the property was sold with contingencies Meaning the person bought something and will take possession providing everything checks out that was aggreed upon between buyer and seller Buyer reserves the right...