What is the meaning of Contingent Liability? Where is it
shown in the Balance Sheet?
- 5 Answers
- 13024 Views
- Thomson, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
what is circuit filter?
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
Short Answer on _________Accounts Receivable
How do the standards assist the users of financial report?
Interest earned on investments is an__________
Can you explain about the distinction of Book-Keeping and Accounting
While posting of FB50 entry therE showing errro msg " NOT ASSIGN COMPANY CODE OR CALCULATION PROCEDURE"
does MIS reports are used in Tally n Focus software? if yes how it is used in focus software? for AR n AP
Breif notes about accounting standards
hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com
what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?
How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?
helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.
what is the main link between the income statement and the balance sheet?
WHAT IS PROSPECTUS?
