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CONTIGENT LIABILITYES
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Answer / swetha
It is a liability which comes into existence on the
happening of an uncertain event.
| Is This Answer Correct ? | 47 Yes | 0 No |
Answer / chukka
It is Liability which were we had not expected generally.
| Is This Answer Correct ? | 18 Yes | 5 No |
Answer / arvind singh
Contingent liabilities are those types of liabilities which
occurrence is depend upon happening of any event in
future.EXAMPLE LIKE
A SUIT IS FILED AGAINST M/S A DUE TO THE CHARGE THAT THEY
USE THE COPY WRIGHT OF /MS B.SO,THE RESULT OF CASE
DETERMINE THAT WEATHER M/S A HAVE FEEL NEED TO PAY ANY
PENALTY TO COURT OR NOT.
| Is This Answer Correct ? | 15 Yes | 2 No |
Answer / vandana gupta
any liabilities whose occurence depends on happening of
uncertain future events
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / suhail sharma
CONTIGENT LIABILITY is a liability which may or may not be
happen, it depends upon some future event. If the debtor is
not able to pay to creditor than there is a liabilty of a
guaranter that the creditor must be paid. Its calles
contigent liabilty
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / veera prathap reddy
which liability may happen or may not happen in future is
called contigent liability
example: guarentees
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / srikantpatnaik
Contingent liability is a probable liability. It means it is
not an actual liability so this item is not shown in Balance
Sheet. rather it is an anticipation of a probable liability
due to certain situations like legal cases pending in court
against the entity and if it goes against the entity then it
may have to pay compensation to the plaintiff.
The entity needs to provide the expected outflow of cash in
case of verdict against it in the footnotes(notes to the
accounts) of the financial statements.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / vengal rao
Contingent liabilities are possible future liabilities that
will only become certain on the occurrence of some future
event. A contingent liability is less certain than a
provision: the latter is expected to occur, a contingent
liability might occur.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / krishnakumar
The liablities which may or may not arises in future is
called contingent liablities.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / deepak n. kolekar
A liability which cannot be present in the balance sheet
but may occur in future with any contingencies.
| Is This Answer Correct ? | 4 Yes | 3 No |
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DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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