kindly given the example of contingent liabilities.
Answer / y.seshamurthy
The Term Contingent Liability Refers to The obligatory to
pay to liability may or may not arise. The best example is
bank guarantee issued to some third parties towards
fulfilment of some contractual obligations, if the contract
obligation is met the company has no liability to pay to
damages otherwise it has to pay the damages.
Is This Answer Correct ? | 7 Yes | 1 No |
define drawer or maker
what is interest invoice
At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?
ACCOUNTING CONCEPTS AND CONVENTIONS
what is leverage n detail and tpoes of leverage with iagram?
expand C B E C
What is a dead A/c?
Sold goods worth 425760 on credit to ABC Traders which is inclusive of 4% vat tax.Pass sales entry with Vat tax
what is reverse repo?
EXPAND___________INTUC
why are capital account shown in liabilities side what is meaning of capital account in balance sheet
Expand MNS