What is Contigent Liability?
Answers were Sorted based on User's Feedback
Answer / sricharan babu m
It is obligation which may or may not occuar in future.
Here we not keeping any amount separetly for that
obligation. it will disclose undet foot note in the
financial statements.
Is This Answer Correct ? | 7 Yes | 1 No |
Answer / sivanarayana.sana
This are the not real liability. which may or may not be payable in the future
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / meena
Contingent liability is the possible liability that existence of which will be confirmed by the occurrence of one or more uncertain future events..
Is This Answer Correct ? | 0 Yes | 0 No |
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