Answer / prasad deshmukh

if liabality is occured on happening or non happening of
certain events. It may be remote or probable.

Answer / joe_birmingham

If liabality is occured on happening or non happening of
certain events. It can be considered as a contigent
liability.

Answer / kalpana

Contingent liability is a liability that is not certain,
but it depends on condition, it will be incurred if that
condition happens or not happen.

Answer / sindujaramkumar

contigent liability is a liability which is not a liability
now but it may or may not become liability in future

for example : a case is pending in the court it may lead to
a faliure in future so that lot amount of money has to be
paid to the oppossition party

Answer / kiran kumar

If liability arises when Some occurence or non occurence of
certain events or transaction will took place.It may or may
note be a liability for the future. And it is shown as a
Footnote Below the Balance sheet.

Answer / ali azgar

If liabality is occured on happening or non happening of
certain events. It can be considered as a contigent
liability.

why you would like to work for the our(AIRLINE) Group ???

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What does SORP mean?

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WHAT IS THE MEANING OF INDENTURE?

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The liabilty positions of 1.sole proprietor 2.Partnership 3.Company

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Expand ------NITES

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what is amortisation of intangible assets?

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How can fictitious assets be measured or valued?

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What is Bank Reconcilation Statement?

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expand--------DRS

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What is the difference between CASH FLOW & FUND FLOW Management?

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Sir,I want to be good in accounting .Now i have got an oppurtunity to work in accounts department but i am average in accounts.So how can i improve and work with effiency guide me with ur tips.

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how to create a profit and loss a/c

9 Answers