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what is contingent liabillity ?
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Answer / prsnmk20
these are not real liabillity. future event can be
decide wheter it is a liabillity or not due to their
uncertainity
for eg ; bill discounting
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / rajni arora
contigent liability means a liability that can or cannot be arise in future.it is shown as a footnote in the balancesheet.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ravi ranjan vishwakarma
these are not real liabillity. future event can be decide
wheter it is a liabillity or not due to their uncertainity
for eg; bill discouting
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / raghavendra acharya
Contingent liabilities are those liabilities which are not actual liabilities at the time preparing balance sheet.It may or may not occur in future.It is shown as foot not on balance sheet.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sunil
this is not areal liability .there is no entry for it in
our account. just behave like a foot not in balance sheet.
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / deepak singh
contingent liabilities means possible obligation or present obligation which cann't be measured.
Present obligation means whose occurance is 'more likely than not'.
Possible obligation means other than present obligation.
| Is This Answer Correct ? | 0 Yes | 1 No |
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
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