How are the terms probable, reasonably possible, and remote related to contingent liabilities ?

Question:

How are the terms “probable,” “reasonably possible,” and “remote” related to contingent liabilities?

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...