What is contingent liability and contingent asset and
provision in respect Accounting Standard?
Answer Posted / shivanand
contingent liabilities are liabilities, which are those may
or may not accure in the future and it is also shown in
the liability side of the balance sheet
| Is This Answer Correct ? | 1 Yes | 3 No |
Post New Answer View All Answers
What are Home Equity Loans ?
what is the scenario of multi-org setup?
service tax form no ? What is CC Limit ? What is branch accounts?
what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c
how to entery pass in tally when items damage(items insured)and claim to insurance co.
where we have file E-returns in SAP FICO-CIN/Wtax?
Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?
what is the script forms standard text in fico
What is the rule on a school who will be handled by anither school? How do I calculate the royalty per year to the school who will supervise a new school
how a fund flow statement benefit the individual, corporate?
Mention some of the major contributions made by you in your present and previous jobs
What's the meaning of Preferential Creditor?
How to caluculate the value of Corporate Profit, the value of personal savings and the value of indirect tax?
why funds management doc is generated during migo and miro
A Customer has a MNC which has a Unit in USA , All use Same Operation Chart of A/c but they also want local reporting for USA unit .What should they do ? Optons : Use Group chart of account & Group a/c no * Use Group a/c no & Alternative a/c no.2 Use Country Specific Chart of A/c