Interested to Buy Any Domain ? << Click Here >> for more details...
how to know which item is contingent liability? and why it
is not taken in treatment in final a/c....
- 1 Answers
- 4064 Views
- I also Faced
- E-Mail Answers
Answer / ameet narayankhedkar
In a layman's language, a contingent liability is a liability
which "may or may not arise".
Contingent Liability is not an actual liability therefore it
is not recorded in b/s. they appear as a footnote to b/s.
Ex:Bill Discounting
It is important to undertake the valuation of the contingent
liabilities in order to estimate the magnitude of the risk
they carry. Contingent liabilities would be mainly valued in
terms of the present value of future net costs that the
government expects to incur by accepting such liabilities.
| Is This Answer Correct ? | 0 Yes | 0 No |
Tell me do you have any professional experience of this field?
what is use of cost center category in tally ? why & when use this ? what is benfit ?
Why we do Inter company reconciliation
define cost control?
Explain me how much mathematics knowledge is necessary or required in accounting?
how to pass the entry of advance paid to employee against salary
i am indrani,iam siting for a/c assistance post of muthoot finance..so my question is what kind of question they may ask related to a/c or finance?or other than subject what question can be asked like why do u want to join this co etc.. ?
How do you maintain accounting accuracy?
WHAT IS THE ENTRY FOR BOOKING PROVISION...? IS IT COMPULSARY FOR BOOKING PROVSION IN ACCOUNTING?
How to pass the entry in tally for demolished of building?
what are the different types of expenditures considered for the purpose of accounting?
what are the voucher entries for depreciation in tally and when?
Audit 
