hi this is priya. what is contigant liability and where we
can take it in balance sheet i mean under which head

Answer Posted / a.madhu sudhan rao

Hai Priya This is Madhu

Contigent Liability Means Future Liability

We have to Show Contigent Liability at Foot NOte on Balance
Sheet

This amount is not Included in Balance Sheet

This is a Future Liability

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