Interested to Buy Any Domain ? << Click Here >> for more details...
what is contigent liability and where we shown in balance
sheet
- 2 Answers
- 5828 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / kiran
A contingent liability is a potential liability...it
depends on a future event occurring or not occurring. For
example, if a parent guarantees a daughter's
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / ankur vora
A Contingent liability is the probation of a liability which right now is not incurred but might occur in future depending on certain future event occur or not. It is not shown in balance sheet but it is described or mentioned in annual report below the schedules to the financial statements.
| Is This Answer Correct ? | 2 Yes | 0 No |
what do u mean by Guidance
v, An amount spent for inaguration of new factory building is A, revenue expenditure B, capital expenditure c, prepaid expenditure d, none of the above
how many types of errors are there
What is the difference between inactive accounts and dormant account?
golden rules of accounting
IRR and NPV
What Does Hedgelet Mean?
Why some asset accounts have a credit balance?
Suppose we are getting a TDS Certificate from our vendor's how can enter the same in our books.
What is fiduciary accounting?
What is cost of goods?
As there is a two types of rates of depreciation i.e as per Income tax Act & As per Company Law.But, in accounting process which of these rates should be taken ?
Audit 
