Interested to Buy Any Domain ? << Click Here >> for more details...
What is contingent liability?
- 16 Answers
- 47644 Views
- Al Fara, Combined Fabrics, Scope International, Syntel, I also Faced
- E-Mail Answers
Answer Posted / nitin
Contingent Liability is for sure liability if it happens,
if it did not happen there is no liability. However if it
happened it is treated as liability and shown in
liabilities section of Balance sheet.
Example:
Mr.L take loan from bank and make the guranter of loan to
Mr.G. Its fine if Mr.L returned loan to bank, suppose if he
fails to repay loan amount to bank then Mr.G need to pay
that loan amount. Hense it is liability for Mr.G
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
how many types of practice accounts?
WHAT IS LIMITED REVIEW? WHY IT IS REQUIRE?
different between acconting and elective mathematics
what is similarites between tata motors and airtel
what is a reducing balance method and depreciation fund investment method and 2 diffrences?
Calculate Income Ta X On Nett Income Of Rs 365520 For Men,women And Senior Citizen For The Assessment Years 2009- 10 And 2010-11?
What is the Formula For Return on Working Capital
Name some errors which can be detected by Trial Balance
what is the document spliting?
What is written off?
what is cost audit?
interest paid comes under which head
Name the Accounting Concepts
i want to sit for the written examination held by govt. sector like coal india, ongc for the post of accountant .. qualification ca inter.. plz any1 of u let me know on wht subjects the questions are asked and wht types of questions are asked... plz let me know.. plz
how many types of financial teribuanal? what is that?
