Answer / c.r.s yogesh babu

It is a Liability May or May not happen in mere future.
Example: Letter of Credit

Answer / gouher

what is contingent liability?




Contingent liability is like a reserve for an emergency liability, which may happen or not happen in the future course of time.

Answer / sumi bhardwaj

contingent liability ,which may happen or not happen. in
other way we say that it is a provision which is made by
company for secure its future loss.

Answer / srinivas sudagoni

Contingent liability is the future liability. the obligation to pay may be depend on occurrence of a contingent event.

what is mean by account

2 Answers  

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My company has just bought a car. The breakdown is as below: cost of the car = 50000 Interest = 15000 Registration fee = 500 Road tax (first year) = 1800 Please show me the correct entries in the books Thank you

6 Answers  

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how loan is different from debenture?

5 Answers   State Bank Of India SBI,

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What are direct and indirect taxes?

7 Answers   Genpact,

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define journal in one word

12 Answers   Accenture,

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difference between provisions and reserves

6 Answers   Capital IQ,

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chq. of ICICI received from big jos of rs. 35000/- for credit sale bill no. S/01 andBill no. S/03

1 Answers  

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a.what products does your firm produce? b.what costs are asssigned to the product produced? c.for particular product,what direct materials are used? d.what percentage of total manufactoring costs is direct labor? direct materials?overhead? e.how is overhead assigned to the products? f.do you now use or plane to use an activity_based management system?why or why not?

0 Answers  

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Who is lance Armstrong ?

1 Answers   DMRC,

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why and how does bills receivable increases assets??

1 Answers   Wipro,

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service tax calculated on agreement value or market value whichver is higher for builders?

0 Answers  

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when cheque deposited into bank for collection and that is not cleared yet what is the entry for it?

1 Answers  

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