Leah Hoover Oct 21 at 2:27 PM This week is all about current liabilities. One category of liabilities a company might be involved in are "contingencies". Consider the following questions related to contingent liabilities: What are contingent liabilities? Describe the criteria for reporting a contingent liability. Find a real world example of a contingent liability reported on a company's annual financial statements (use an example based on research outside of the textbook). Describe the contingent liability and how it is reported. CITE YOUR SOURCE(S)