What do you mean by contingent liability?
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Contingent liability is libility which may or may not occur
in future
| Is This Answer Correct ? | 13 Yes | 0 No |
Answer / krishnaveni
contingent liabilities means these are not the real
liabilities future event can only decidethat is the
contingent liabilities
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / shraddha
contingent liablity means the liability which may or may
not arise.
e.g. discounted bill with bank,arrears of dividend.
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Answer / raju(sks micro finance)hyd
An obligation to an existing condition or situation which
may arise in future depending on the occurrence of one or
more uncertain future events.
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Answer / aabid zulfi
Contingent liability
means it is a liability
which is shown in the
books of accounts but
is not actually payed.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / bapi ranjan dass
Contingent liabilities are those which are shown in the books of accounts but it may or may not payable in future.
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Answer / barodianbuddy(acca)
A POSSIBLE OBLIGATION THAT ARISES FROM PAST EVENTS AND WHOSE EXISTENCE WILL BE CONFIRMED ONLY BY OCCURRENCE & NON OCCURRENCE OF ONE OR MORE UNCERTAIN EVENTS. EG. UNCERTAIN EVENT, PENDING LEGAL DECISION.
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