Interested to Buy Any Domain ? << Click Here >> for more details...
CONTIGENT LIABILITYES
- 11 Answers
- 20437 Views
- Accenture, Genpact, Siemens, I also Faced
- E-Mail Answers
Answer Posted / srikantpatnaik
Contingent liability is a probable liability. It means it is
not an actual liability so this item is not shown in Balance
Sheet. rather it is an anticipation of a probable liability
due to certain situations like legal cases pending in court
against the entity and if it goes against the entity then it
may have to pay compensation to the plaintiff.
The entity needs to provide the expected outflow of cash in
case of verdict against it in the footnotes(notes to the
accounts) of the financial statements.
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
drawings by making a DD from bank ( suppose payable towards UIT ) and on cancellation on such DD what journal entry needs to be passed ?
WHAT IS CORPORATE ACTION?
What is the meaning of Debt reconciliation and how to do debt reconciliation?
WhatIs the limit of duty exemption in smal scale industries.
what is the difference between accounts manager and finance manager?
DEfine SAP
Expand-------SCAN
what is the script forms standard text in fico
What type of Questions are asked for Interview in Infosys - Financial Process. Any one who is into Research Analyst or Process Executive role, kindly contribute the Questions faced by you?
i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???
Short Answer on _________Financial accounting
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.
Hi all i did my M.B.A financ enw iam doing a job as a finance executive but i feel it is not good 4 me can any 1 plz guide me 4 the better career my job profile is (INVOICING)hw it is help me out 4 the better career shell i continu ein the same 1 by learning sap or oracle or shall i shift to any other if any other which job is suites to me plz suggest me
How can fictitious assets be measured or valued?
Expand---------DEP
