What are the contingent liabilities ?
Answer / pradipta acharya
Contingent liabilities are liabilities that may or may not
be incurred by an entity depending on the outcome of a
future event such as a court case. These liabilities are
recorded in a company's accounts and shown in the balance
sheet when both probable and reasonably estimable.
Is This Answer Correct ? | 7 Yes | 0 No |
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