What is contingent event?
Answers were Sorted based on User's Feedback
Answer / ankit dabda
Contingent event may be happened or may not be happened in future bu company has to make provision for it because it support the principle of accrual accounting, where a company has to include all its future losses and neglect any expected future profit. This entry does not include in balance sheet but has to show in annual report.
Is This Answer Correct ? | 16 Yes | 2 No |
Answer / nupur jain
A contingent event is a future event which is epected to
happen. Generally it is a conservative way of thought. An
event which might happen in future and that might be the cause
of a irregular and non-recurring expense for the company
Is This Answer Correct ? | 9 Yes | 3 No |
agar humne c-form ke against sales ki hai . After 6-month party hamhe goods retun karti hai sath hi wo hamshe sales return amount ka c-form magti hai to kya hum c-form issue kar sakhte hai ya nahi.please give me correct suggestion.
Expand ________ABAP
employee contribution towards PF can be taken as expenses or not
What is the Profit & Loss Account?
Expand ------BSP
What is mean by Reserve on Consolidation?
what is accounting
CAN PRE OPERATIVE EXPENSES BE CAPITALISED? IF YES, HOW CAN IT BE DONE?
what would you contribute for bhels growth
Feature of Master letter of credit of Garments manufacturing company?
Tresuty stocks/shares calculation?
what do you mean by semi-variable cost?