Where will Contingent liability appears? And why it is not
appear in Balance sheet?
Answer Posted / kiran
Contingent liability does not appear in the balance sheet.
It is written as a note under the balance sheet because
contingent liabilities are those liability which may or may
not be incurred depending on the future outcome. For Ex:
Loss by fire, theft etc...
Is This Answer Correct ? | 25 Yes | 6 No |
Post New Answer View All Answers
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
EXPAND_________TOEFEL
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?
if you fix salary to some body for Rs.10000/- what are the segregations to be done and what are the deductions to be done (segregations like basic, da,ta,conveyance etc., how ? what percentage what speaks law) and deductions what are those like, pf,esi,pt, etc., what ever
tell me about roll model as father
you buy a $100 asset. $25 cash, $50 debt, and $25 new equity. Explain how the 3 financial statements (IS, BS, CFS) will change.
define accounting,scope of account , types of account ?
what is controlership?
How can we display last five years sales in tally
Straight line method to using Indian company names
What is money measurement concept
EXPAND_________SEC
What is the Finalization of Accounts?
cany anyone explaing what are the functions of an Account Officer/Manager?
what is Tds %,Service tax %,Cess %,and ESI,PF %,and what is the use of this.