WHAT IS CONTINGENTI ASSESTS AND LIABILITIES?

Answer Posted / s.srinu

Contingent liability is a liability which defends upon
occurance & non occurance of some future event is called
as continngent liability same like that for contingent
asset also

Is This Answer Correct ?    5 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is transposition-cum-demat?

2048


What is COVER payment?

2211


what is data entry? what is report generation ?in accounting how it is used .

1831


HOW I CAN PREPARE A BALANCE SHEET OF A COMPANY ?

1510


After Posting the Document in SAP FICO Using the sort key then where we can see the sort key in SAP

1921






Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?

612


what is the entry for goods sent from one factory to another under inter branch transfer sale of the same compny and what should be the valuation for this purpose?

1579


what is absorbtion coasting?

1842


as per partership firm TDS receivable at the end of goes to partners current account, but at the multinational company how pass TDS entry pass, where is it is goes

3270


What is the basic difference between pledge, hypothication and mortgage????

1831


why may types of accounts

1727


diffrence between the profit center and business area

1663


Can v transfer trail balance to journal entry how and with example?

1751


How will be prepare invoice in tally, please tell me step by step

2367


How to dived the persons AOP, AJP, BODY OF INDIVIDUALS,HUF,COMPANY-NON RESIDENT, COMPANY RESIDENT LOCLA AUTHORITY,PARTNERSHIP FIRM(meaning)

2281