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what is contingent liability
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Answer / pradeep gunuguntla
The liability which comes into existence on the happening of
an uncertain event.
| Is This Answer Correct ? | 20 Yes | 0 No |
contigent liability which is payable on the event it may be
payable or not for example the insurance amount is payable
if incurred the event otherwise not payable this is called
the contigent liabilities
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / himanshi
contingent liability is that liability of the occurence of
which is uncertain. this liability is not shown in the
balance sheet rather below the balance sheet on the
liability side.
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / sivakumar
it is the liability which will accrud based on the future
event.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / parushuram
contingent liability is liability the amount which is
payable to the depancesupon feature happening is called
contingent liability
| Is This Answer Correct ? | 0 Yes | 0 No |
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