what is contingent asset
- 5 Answers
- 14327 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / kalyani
Item that depends on some future happening that may or may
not occur. Its existence or value is not assured. A
contingent asset may emanate from a Contingent Liability .
An example of a contingent asset may be a successful
lawsuit claiming damages of another party. It cannot be
shown as an asset on the balance sheet because it violates
conservatism. However, footnote disclosure may be made.
| Is This Answer Correct ? | 43 Yes | 3 No |
The asset which is under dispute is called contingent asset.
contingent asset are shown as a footnote under the balance
sheet.
| Is This Answer Correct ? | 8 Yes | 1 No |
contingent asset means eg- if active partner and sleeping
partner are fighting for particular asset the lawyer advised
to settle the matter in the court. depending up on the court
final judgment if the judgment was in favour of whom will be
holding the asset
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / pankaj
assets which is under disputes of parters or of companies, that is to be treated as contingent assets.............
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / biswa darshan
Contigent Asset is a unasured asset which is treated under
current asset. It's clearance is not clear till iot is
encashed. for example Cheque, Bill receibable etc.
| Is This Answer Correct ? | 9 Yes | 21 No |
HOW TO CALCULATE NAV? If investment Rs 70000 ( unit 1689.197), dividend recd.Rs.10135.18
Define Joint Venture
hey! i have an interview for PO in union bank on 11th feb. can anyone please tell me what major topics should i prepare for? of course npa is there. also cibil and basel basics. is there anything else i should prepare?
Since the interest rates on fixed deposits are very low as compared to the other growth oriented investment options, what are the permitted investment options that a public trust like that of a private school or small credit societies have and which are permitted by charity commissioner, Mumbai
What is revenue for Insurance Company?
Bank reconcliation statement.
11 Answers Franklin Templeton, FT, HSBC,
Expand ------UNDP
wat is finance?
what is Derivative?
Hi all i did my M.B.A financ enw iam doing a job as a finance executive but i feel it is not good 4 me can any 1 plz guide me 4 the better career my job profile is (INVOICING)hw it is help me out 4 the better career shell i continu ein the same 1 by learning sap or oracle or shall i shift to any other if any other which job is suites to me plz suggest me
what is the journal entry? goods purchased by ram on credit for 1000 which includes vat rs.100 in it
How to enter PO in SAP
Audit 
