What is the purpose of listing the account Commitments and contingencies on the balance sheet even though

Question:

What is the purpose of listing the account "Commitments and contingencies" on the even though no dollar amounts appear?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...