Where we show the Contingent Assets.
- 6 Answers
- 10007 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
contigent asset is a asset which may come in to the
bussiness in the future
for eg some kind of compencation may be received in future
for infringment of trade marks copy rights etc
normally contigent liab is shown as footnote but in comp
act their is no prov to show contigent asset as a footnote
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / a.r.somesh
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / kaushal jha.
Contigent Assets is not show in the B/S it shows in foot
note near Balance Sheet
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anagha
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / raghava.i
contingent assets are thouse assets which are some thing
happend then thouse assets are called contingent.
Ex: we ordered of any stock or mechanery from
ouside country they or comming on flight if when they was
safly received then thouse things are called contingent
assets.
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / ketki b
Contingent liabilities are not included in any accounts,
however they are shown below the Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 9 No |
A check deposited in a saving account is shown as credited in clear balance in the passbook while the other check deposited next day is shown as pending clearance. Can a bank later on debit the amount of the 1st check unilaterally,once it is cleared by bank.
why we use the term profit and loss account instead of profit or loss account
Dear sir, please tell me how to calculate provident fund by employer?
Rs 45000 received from the source of bad debts which were already declared.pass entry
An advance of Rs 10000/- is received from customer. pass necessary journal entries
What is the difference between debit and credit?
How are bank charges made
Expand--------SOT
WHAT IS PORTFOLIO MANAGEMENT?
what is differred tax liability? explain in detail with some example.
what is amortization or what is the use of amortization?
what are the financial ratios that a manager see in accounting?
Audit 
