Answer Posted / sreenivasan.m.p

contingent liability is a potential liability…it depends
on a future event occurring or not occurring. For example,
if a parent guarantees a daughter’s first car loan, the
parent has a contingent liability. If the daughter makes
her car payments and pays off the loan, the parent will
have no liability. If the daughter fails to make the
payments, the parent will have a liability.

I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?

2058

---

Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question

2121

---

why the closing stock is not considered in drawing trail balance.... Are there any other items like the above

2444

---

Prepare a trial balance from the following :- Particulars Amount Particulars Amount Rs. Rs. Purchases 8225 Premium on lease 1200 Wages 1025 Loan on mortgage 2500 Sales 12450 Plant & machinery 2000 Arun's capital 13500 Provisn for doubtful debts 300 Stock on 1/1/98 1500 Sundry debtors 16550 Salary 410 Trade charges 200 Rent & taxes 162 Bad debts 200 Sundry creditors 2572

2407

---

How to increase our credit rating score quickly?

1901

---

What is the meaning of Debt reconciliation and how to do debt reconciliation?

2457

---

Short Answer on __________Measurement

2078

---

WHEN IN ADJUST. GIVEN THAT THERE IS VALUE OF RS...., OBSOLESCENCE STOCK INCLUDED IN CLOSING STOCK RS.......,WHAT IS THE PROPER WAY TO SHOW IN INCOME STATEMENT AND POSITION STATEMENT.

2161

---

Mention some of the major contributions made by you in your present and previous jobs

6151

---

Expand-------NAC

2252

---

Exapnd--------RAN

2242

---

What is Trade Recovery Estimate and how can we calculate it?

2012

---

Expand-------ANTS

2031

---

Who is the maker of the promissory note

2001

---

What are the types of journal categories available in the Oracle AP?

2147

---