Interested to Buy Any Domain ? << Click Here >> for more details...
what is contigent liability and where we shown in balance
sheet
- 2 Answers
- 5833 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / kiran
A contingent liability is a potential liability...it
depends on a future event occurring or not occurring. For
example, if a parent guarantees a daughter's
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / ankur vora
A Contingent liability is the probation of a liability which right now is not incurred but might occur in future depending on certain future event occur or not. It is not shown in balance sheet but it is described or mentioned in annual report below the schedules to the financial statements.
| Is This Answer Correct ? | 2 Yes | 0 No |
Explain financial accounting.
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
I m working in NGO. we have taken loan from a person or other project in march and returned in may. So what are the entries in tally should be. what are the ledgers to be created and under which group? what are the journal entries?
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
what is depriciation, and its method
difference b/w trading a/c & manufaturing a/c.
HOW TO CALCULATE INPUT TAX CREDIT (ITC) ?
discuss seperate determination concept
As you know excellent communication skills are at the core of this position. Do you have experience with interpersonal communication in a professional setting?
Why we show always closing stock in credit?
Explain the Accounting Equation?
what is cash to cash transaction in tally while entering contra voucher
Audit 
