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 subscription order

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stock split

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What is the entry for Good will payment? (received money for Good will)

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Provisioned for electricity for the previous month's bill Rs. 8000 (pass journal entry)

1 Answers   SSPL,

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what is the meaning of debit and credit

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Difference between Provisions and reserves

4 Answers   Accenture,

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Loan & Advances which heading calculated ?

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IF SALES BILL PREPARED BY CHARGING CST 4 WHEN THERE IS CST 4 TO BE CHARGED. BUT NOT 2010-2011 CST IS 2%. NOW WE HAVE TO PREPARED CREDIT NOTE AGAINST THAT BILLS WHICH CHARGED CST4 AT THAT TIME. THEN I HAVE TO ASK THAT HOW TO MAKE CREDIT NOTE NOW I.E 2010-2011 BY CHARGING 4% OR 2% ?

0 Answers  

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