What is the meaning of Contingent Liability? Where is it
shown in the Balance Sheet?

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What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet?..

Answer / manojs

it is a liabilty which may or may not arise in case of any
event or contigency


it is shown as a foot notes in the balance sheet

Is This Answer Correct ?    24 Yes 3 No

What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet?..

Answer / muhammed noushad

Contingent liability we are shown this in the liability
side under the head of contingent liabiliteis its the type
of liability which is emideate create.we are only show it
in the balance sheet it doe's not show any effect on
balance sheet total.

it is a liabilty which may or may not arise in case of any
event or contigency


it is shown as a foot notes in the balance sheet

Is This Answer Correct ?    9 Yes 0 No

What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet?..

Answer / sukanya reddy

contingent liabilities are those liabilities which may or
may not happen. they are contingent or dependant on future
event, which may or may not happen. example is lawsuit or a
legal proceeding. They are not reported as a liability in
the balance sheet. if it is significant it will be reported
into the notes to accounts in the financial statements.

Is This Answer Correct ?    2 Yes 0 No

What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet?..

Answer / ajay kumar

Contingent Liability to be shown in the balance sheet on the
liability side that is one of the liability in the company

Is This Answer Correct ?    14 Yes 19 No

What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet?..

Answer / raman kumar

Contingent liability we are shown this in the liability
side under the head of contingent liabiliteis its the type
of liability which is emideate create.we are only show it
in the balance sheet it doe's not show any effect on
balance sheet total.

Is This Answer Correct ?    11 Yes 17 No

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