Where will Contingent liability appears? And why it is not
appear in Balance sheet?
- 4 Answers
- 21613 Views
- ACS, I also Faced
- E-Mail Answers
Answer Posted / ravi
Contingent Liabilities are doesn't shown in the balance
sheet, it should shown as note under balance sheet, this
liabilities are may be payable or may not be payable, ex:
BGs, LC, liability pending in the court those expenses
maybe payable are maynot be payable
| Is This Answer Correct ? | 36 Yes | 3 No |
Post New Answer View All Answers
what is the accounting conventions
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
why the RRB'S not lend loans directly to farmers?
Do you need an income statement if you do part time contract work at home?
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
How can I explain p2p process in SAP?
Short Answer on ___________Finance Bill
What is the defination of job costing, batch costing and contract costing?
What is the working formula for Inventory turnover
what is status report? and flow report?
can we get all interview questions with answers in tally 9 which mostly asked in MNC's.
AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
WHAT IS THE DIFFERENCE BETWEEN COST CONTRL & COST REDUCTION
Nature of training account with reason
Short Answer on __________Revenue
