What do you mean by contingent liability?
Answer Posted / barodianbuddy(acca)
A POSSIBLE OBLIGATION THAT ARISES FROM PAST EVENTS AND WHOSE EXISTENCE WILL BE CONFIRMED ONLY BY OCCURRENCE & NON OCCURRENCE OF ONE OR MORE UNCERTAIN EVENTS. EG. UNCERTAIN EVENT, PENDING LEGAL DECISION.
Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Explain what is bad debt expense?
what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit or loss in case the party paid check direct to Bank .......???
iv, A non -performing asset is A, Money at call and short notices b, An asset that ceases to generate income c, cash balance in till d, none of the above
what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok
How is scrap value calculated?
were you happy with the grades you achieved at a-level?
Do you know company's payable cycle?
What is meant by partitioning?
What is Normal Loss? and What is the reason for Debiting such Loss in P&L account and also Crediting in Trading Account? and how the Loss should be accounted?
Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?
Cello pen gross value is 935.89 for 12 nos 14.5% tax
PROVIDENT FUND TO BE CALCULATED ON BASIC AFTER DEDUCTION OF ABSENTS (LOP)
input vat, wht use in wct
Explain some of the accrued expenses and the accounts in which you would record them?
Do you know how many types of business transactions are there in accounting?