Interested to Buy Any Domain ? << Click Here >> for more details...
what is contigent liability and where we shown in balance
sheet
- 2 Answers
- 5827 Views
- I also Faced
- E-Mail Answers
Answer Posted / ankur vora
A Contingent liability is the probation of a liability which right now is not incurred but might occur in future depending on certain future event occur or not. It is not shown in balance sheet but it is described or mentioned in annual report below the schedules to the financial statements.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is accounting & why it is used?
What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
Tell us what inspired you to move to the next opportunity?
Define scrap value in accounting?
BRIEF IN DETAIL REGARDING RATIOS
how will rectify the error in trial balance.
how to pass interest on security entries and salary payable entries in tally and how to maintain e-commerce company account please revert me ASAP its needful for me
how to get a job in stock markets for MBA-FINANCE?
Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-
what is the relationship between bookkeeping and accounting?
how to create salary and pf statement in excel sheet?
What are the various systems of accounting? Explain them.
How to calculate Term Loan interest and the double entry for Term Loan ? What difference between hire purchase and term loan ??
If a prospective client kept presenting you with excuses not to buy, what would you do?
