Interested to Buy Any Domain ? << Click Here >> for more details...
what is contingent liabillity ?
- 6 Answers
- 8810 Views
- Siemens, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / prsnmk20
these are not real liabillity. future event can be
decide wheter it is a liabillity or not due to their
uncertainity
for eg ; bill discounting
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / rajni arora
contigent liability means a liability that can or cannot be arise in future.it is shown as a footnote in the balancesheet.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ravi ranjan vishwakarma
these are not real liabillity. future event can be decide
wheter it is a liabillity or not due to their uncertainity
for eg; bill discouting
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / raghavendra acharya
Contingent liabilities are those liabilities which are not actual liabilities at the time preparing balance sheet.It may or may not occur in future.It is shown as foot not on balance sheet.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sunil
this is not areal liability .there is no entry for it in
our account. just behave like a foot not in balance sheet.
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / deepak singh
contingent liabilities means possible obligation or present obligation which cann't be measured.
Present obligation means whose occurance is 'more likely than not'.
Possible obligation means other than present obligation.
| Is This Answer Correct ? | 0 Yes | 1 No |
why we use 'To' when crediting an entry in journal and sometimes not use 'To'...??
What is the difference for calculation Depreciation as pert Companies Act and Income Tax
In manufacturing co at what time entry tax shall be applicable
What is imprest a/c ?
Mr.A repaired a printer of a company and charge a bill of Rs.1200? The company paid Mr.A cheque of Rs.1080 and deduct Rs.120 in TDS after couple of day Mr.A received TDS certificate from the company. pass all the entries in the books of accounts.
What are the three factors that can affect your cash flow and business profitability?
What is the treatment of preliminary? is this current assets?
hi m freshe working as a account assistance. i want know about accounts, what is balance sheet, profit & loss a/c, trail balance? why these are require to company? how can i know about full account work in tally? what should i do everyday? how to finalisation calculting? kindly explain please..
what diff. between laibilities and provision?
Why the provision is considered as expense and reserve is considered as liability even if they both are allocated as precautionary for specific and general purpose? pls Explain.
What are accounting rules called?
In South Africa, the value added tax is administered by?
Audit 
