CONTIGENT LIABILITYES
Answer Posted / deepak n. kolekar
A liability which cannot be present in the balance sheet
but may occur in future with any contingencies.
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A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
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hai everybody... wish u all the best for those who got selected in sbi associate bank is anyone from coimbatore region attending on 27th may 2009.
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