Answer / pradeep gunuguntla

The liability which comes into existence on the happening of
an uncertain event.

Answer / vipul chauhan

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

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.

Answer / sivakumar

it is the liability which will accrud based on the future
event.

Answer / parushuram

contingent liability is liability the amount which is
payable to the depancesupon feature happening is called
contingent liability

Could you tell someting Use's of Trial Balance and where we get the details.

3 Answers   Genpact, MNC,

What is the difference between a cash flow statement and an accural profit & loss account ? And why do simple organisations do not feel the need for a profit and loss type of statement ?

0 Answers  

Q. Journalise The fllowing Transction.. 1. Case Sales Rs. 50000

2 Answers  

What do you mean by the word Loss in nominal accounting Give some examples

2 Answers  

We are facing problem in Capital Goods when our other unit send us Capital goods we book it in Fixed assets but if we transfer the same capital goods to other unit we have to make sale bill in which this item goes to inventory, and the qty is shown as negative balance, but our unit is asking for Invoice, Please explain how we will settle this qty from assets as per excise rule.

1 Answers  

6, state with reasons wheather the following items are capital expenditure or revenue expenditure i, A factory building was constructed at a cost rs 1500000 a sum of rs 64000 were incurred for the construction of huts for storing building materials ii, rs 5000 paid for removal of stock to a new site iii, expenses incurred in connection with obtaining a license to start the business were rs 15000

1 Answers  

What is the difference between General Ledger and Trial Balance?

2 Answers  

Do you know any other accounting application?

0 Answers  

how to calculate process account under fifo and weighte average method in eqivalent production.

2 Answers  

instead of clicking backup,i selected restore in tally7.2 and all my data is lost and i also forgot the comapny name,which i wanted to restore?how to recover my data?

1 Answers  

where does petty cash to cash entry go in tally

1 Answers   ABC,

A company has not deposited TDS since April 2010 till 31-12- 10. TDS amount is around 3.00 Lacs per month u/s 194c,J and 1.00 U/s 192. Can any one tell concequences and chart in excel sheet how much to be deposited as on 31.12.2010 with interest. For each quarter - whether interest calculation is separate or to take it cumulative. pls explain with qanswers and hoe much panely , interest to be paid till 31.12.2010 also inform the status of tds certificates to be issued and panelty for the same for late issuance. i.e what shud be the date of issuing the certificates to public & empoloyees.

1 Answers