Contingent liabilities should be recorded in the accounts
when
A) It is probable that the future event will occur
B) The amount of the liability can be reasonably estimated
C) Both A&B
D) Either A or B
- 5 Answers
- 11513 Views
- FactSet Systems, I also Faced
- E-Mail Answers
Answer Posted / srujanrao
ans>c
| Is This Answer Correct ? | 7 Yes | 0 No |
Post New Answer View All Answers
what is general HR?
How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing
What is Risk Assessment?
DIFFERENCE BETWEEN THE DEPRICIATION AND IMPOSEMENT? DIFFERENCE BETWEEN THE CAPITAL LEASE AND FINANCE LEASE?
Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
Debit Note & Credit Note?
What are the benefits ofparticipation in a depository?
I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T
pls send me capital iq quition paper pls, ihave 2mr interview thanks
i have completed my MBA with finace background. am intrested to learn oracle finace.can you suggest me which are good instittues in hyderabad.at area wise.
distinguish between price rate and time rate?
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
What is the role oF Jr Financial Analyst ? And what are the General Questions Asked for this Profile For freshers ?
what is purchase tax in rajasthan.
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK
