Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / jeevan
Contingent liabilities that may or may not be incurred by an entity depending on the outcome of a future event such as a court case. These liabilities are recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable. A footnote to the balance sheet describes the nature and extent of the contingent liabilities.
Examples
outstanding lawsuits
Accounts payable-Accounts payable is a file or account that contains money that a person or company owes to suppliers, but has not paid yet.
Liability
Liquidated damages
Tort-ort law is a body of law that addresses, and provides remedies for, civil wrongs not arising out of contractual obligations.
Bills Discounted with bank
Unliquidated damages-Liquidated damages (also referred to as liquidated and ascertained damages) are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance).
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Distinguish between sale and consignment
Short Answer on __________Event
You have joined company yesterday then you are Appling B1 visa today. why so urgent.
why cost center is assign to gl account in sap
Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not
Expand--------TOS
what is Calculation of Gross Profit Or Gross Loss?
which Electrical items is Exciseible
Define `Realisation` Account? Explain the salient features?
what are valuation accounts?
What do we mean by the term "Securities" when we say that "Govt injecting/sucking liquidity in/out of the system by buying/selling securities?
tell me about a time you had to deal with a conflict between a licensed and unlicensed personnel and how handled the situation?
Short Answer on -----Trade mark
WHICH IS MORE RISKY TO A BANKER, A CASH CREDIT OR A LETTER OF CREDIT
Hai i am mathi Preparing for bsrb clerical examinations.If anybody had that please mail me at mathiy@rediffmail.com
