Where we show the Contingent Assets.
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contigent asset is a asset which may come in to the
bussiness in the future
for eg some kind of compencation may be received in future
for infringment of trade marks copy rights etc
normally contigent liab is shown as footnote but in comp
act their is no prov to show contigent asset as a footnote
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / a.r.somesh
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / kaushal jha.
Contigent Assets is not show in the B/S it shows in foot
note near Balance Sheet
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anagha
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / raghava.i
contingent assets are thouse assets which are some thing
happend then thouse assets are called contingent.
Ex: we ordered of any stock or mechanery from
ouside country they or comming on flight if when they was
safly received then thouse things are called contingent
assets.
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / ketki b
Contingent liabilities are not included in any accounts,
however they are shown below the Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 9 No |
WHAT IS ACCOUNTING?
sorry this is my personal. But i want to be share because i am confusing stage. This is not related any interview question first in my schooling i studied telugu mideam. After my B.com i joined CA but i didn't pass but i vasted 4yrs. After i did MBA still i am not fluentcy in english i learned 30% english if i will go interviews or not ?
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