Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / suri
Contingent liability may be defined 'A possible obligation
that arises from past event whose existance will be
confirmed only after occurence or non-occurence of one or
more uncertain future events.
or
either outflow of resources to settle obligation is not
probable or the amount can not be expected to settle
liability with sufficient reliability are called contigent
liability
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Explain me by saying, perpetual or periodic inventory system; what do we mean?
what are the extraordinary items?
what is subscription order
What is Debit Note and Credit Note? Subsidory Books? Minority Interest? Stock recording in P&L? Outstanding Expenses, Prepaid Expenses and Examples?
what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement
Tell me what is the equation for acid-test ratio in accounting?
What is the difference in accounting and marketing?
One Institute, after completion of course not issue any certificate to students, they issued certificate from other branded institute with cost (Kindly provide the term of this expenditure to appear in P&L a/c)
what is the treatment for employee contribution and employer contribution in in pf in accounts under which head??
WHAT IS THE DIFFERENCE BETWEEN ESTIMATED BALANCE SHEET & PROJECTED BALANCE SHHET
what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?
Explain me your track record in previous jobs, specifically speaking to any mistakes you may have made. There is little room for error in accounting?
what is the deference between depreciation explanation
a.what products does your firm produce? b.what costs are asssigned to the product produced? c.for particular product,what direct materials are used? d.what percentage of total manufactoring costs is direct labor? direct materials?overhead? e.how is overhead assigned to the products? f.do you now use or plane to use an activity_based management system?why or why not?
Capital reserve is - a) real account b) nominal account c) personal account d) none of them
