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

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.

Amortization

2 Answers   Bank Of America,

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paid in advance journal entries

3 Answers  

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Define and distinguish between flexible and floating exchange rate system. What kind of exchange rate system does china have?

0 Answers   IBM, Wipro,

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What is Rectification of Errors and types of errors?

3 Answers  

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Home furniture sold goods to Jhon for 150000 on 10th march 2015, due to damage occured in transmit rs 20000 worth of goods have been returned on 16th march 2015. What is the journal entry for both the instances ?

2 Answers   NA,

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What is meant by ERP

3 Answers   QAZI Engineering, State Bank Of India SBI,

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for which account the cost centre should be given?

1 Answers  

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what is Profit & Loss Account?

4 Answers   EDS,

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What is the entry for Discount Received? & What is the entry for discount paid?

13 Answers   Azizi Bank, i4 Mobiles, WNS,

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How do you calculate closing stock? Which important steps do you take while valuation of closing stock.

4 Answers   Jordan, TATA,

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how to calculate AMC charges for the financial year

1 Answers  

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Labour charge 100000  deduction tds 5%

3 Answers  

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