Answer Posted / rakesh kumar prasad
contingent liabilities are those liabilities which become
payable on the happening of the an event. in case, the event
does not take place or happens, no amount is payable. such
liabilities are not shown in the balance sheet but these are
revealed by note.
examples
liabilities in respect of bills
disputed claims
guarantee for loan, etc.
| Is This Answer Correct ? | 16 Yes | 2 No |
Post New Answer View All Answers
what is the enty for contract bill raised?
Explain me scrap value in accounting?
What is fiduciary accounting?
What is the Technology used to carry out trades? Pls Tell me as early as possible.
Where do generally accruals appear on the balance sheet?
What is an operative accounts?
give me examples of the accounting reports you have prepared
What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%
Explain financial accounting.
shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?
Do you know marginal cost?
Tell me do you have any idea about service tax or excise?
Pl's confirm me this entry how to pass in Tally 9.0 & Tally ERP.9 that if I purchase 20 mobile,30 phone,20 LCD,15 laptop from mangesh @ Rs.7000,Rs.200,Rs.17000 and Rs.14000 respectively on each. But I purchase by cash and 15 days later I sold half of the thing to priya margin of Rs.100 on each by cheque and rest i sold to minal on cash margin of Rs.200 on each. But I received cash 1 month later. so calculate how much profit I got by selling the products.
Where I can Found Cost Reduction Techniques Implemented by Various cement Companies
A factory uses annually 24,000 units of a raw material which costs Rs. 1.25 per unit. Placing each order costs Rs. 25 and carrying cost is 6% per year of the average inventory. (a) Find the economic order quantity and the total inventory cost including the cost of material.
