Understanding positive thinking and self-talk. Positive thinking doesn't mean that you keep your head in the sand and ignore life's less pleasant situations. Positive thinking just means that you approach unpleasantness in a more positive and productive way. You think the best is going to happen, not the worst. Positive thinking often starts with self-talk. Self-talk is the endless stream of unspoken thoughts that run through your head. These automatic thoughts can be positive or negative. Some of your self-talk comes from logic and reason. Other self-talk may arise from misconceptions that you create because of lack of information. If the thoughts that run through your head are mostly negative, your outlook on life is more likely pessimistic.
Definition of liability. plural. liabilities. 1a : the quality or state of being liable was cleared of liability for the accidentb : probability. 2 : something for which one is liable; especially : pecuniary obligation : debt âusually used in plural business assets and liabilities.
Contingent Liability. Definition: A contingent liability is either a possible obligation arising from past events and depending on future events not under an entity's control, or a present obligation not recognized because either the entity cannot measure the obligation or settlement is not probable.nstead, only disclose the existence of the contingent liability, unless the possibility of payment is remote. There are three possible scenarios for contingent liabilities, all of which involve different accounting transactions. They are: 1  Recordation.