Answer / rajesh jaiswal

Contingent liabilities are liabilities that may or may not
be incurred by an entity depending on the outcome of a
future.

Also it is short term Liability

Answer / parry.d

A contigent liability: its may or may not be liability to
the company but it is the mandatory to show in balance
sheet.

Answer / pushpender jangid

Contingent liabilities also liability but it's depending on
future decision. contingent liabilities also show in below
balance sheet.

Answer / balu reddy

contingent liability is a liability that due depending on
the future events such as court case etc....it is recorded
in company accounts and shown in the balance sheet...........

Answer / trilok satwani

contigent
liabilities are
those liabilities
which may or may
nt be appear in
the future..
e.g. legal case

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