Interested to Buy Any Domain ? << Click Here >> for more details...
Where will Contingent liability appears? And why it is not
appear in Balance sheet?
- 4 Answers
- 23759 Views
- ACS, I also Faced
- E-Mail Answers
Answer Posted / barodianbuddy(acca)
A contingent liability: a possible obligation depending on whether some uncertain future event occurs
According to IAS 37
Recognition of provision for contingent liability
Virtually certain ( > 95% ) - provide
Probable ( 50% to 95%) - provide
Possible ( 5% to 50% )- disclose by note
Remote ( < 5% )- no disclosure
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing
What is the quality of the accountant & rights ? hansika.kk@gmail.com
Expand DEHM
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
sort out the difference between service provider & service reciepient from the service tax.
plz tell me short cut method in maths for clerck post in bank
i want the difference p&l a/c and Income and expediture statement
can any one send me payables real time scenarious or any projects
Which entry we pass self entry like cash withdraw for ourself
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
in what form is crr kept in RBI?
The Closing stock balance on the cr side of Tarding Proft and Loss A/c due to this our revenue so when we isued the material or used in production then whats happen with closing stock(I think Closing Stock will dr after Isuabce/use materil in Production)if its correct tell me
Please explain a Representative Personal Account.
how can i make configration relation with inflation in sap
my qustion is what is H foam and where use
