what is contingent liabillity ?

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what is contingent liabillity ?..

Answer / prsnmk20


these are not real liabillity. future event can be
decide wheter it is a liabillity or not due to their
uncertainity
for eg ; bill discounting

Is This Answer Correct ?    17 Yes 4 No

what is contingent liabillity ?..

Answer / rajni arora

contigent liability means a liability that can or cannot be arise in future.it is shown as a footnote in the balancesheet.

Is This Answer Correct ?    7 Yes 1 No

what is contingent liabillity ?..

Answer / ravi ranjan vishwakarma

these are not real liabillity. future event can be decide
wheter it is a liabillity or not due to their uncertainity
for eg; bill discouting

Is This Answer Correct ?    6 Yes 3 No

what is contingent liabillity ?..

Answer / raghavendra acharya

Contingent liabilities are those liabilities which are not actual liabilities at the time preparing balance sheet.It may or may not occur in future.It is shown as foot not on balance sheet.

Is This Answer Correct ?    2 Yes 1 No

what is contingent liabillity ?..

Answer / sunil

this is not areal liability .there is no entry for it in
our account. just behave like a foot not in balance sheet.

Is This Answer Correct ?    4 Yes 4 No

what is contingent liabillity ?..

Answer / deepak singh

contingent liabilities means possible obligation or present obligation which cann't be measured.
Present obligation means whose occurance is 'more likely than not'.
Possible obligation means other than present obligation.

Is This Answer Correct ?    0 Yes 1 No

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