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what is contingent liability
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Answer / kirankumar
the probability of an obligations to pay certain sums
dependent on future events.
| Is This Answer Correct ? | 24 Yes | 4 No |
Answer / ziya anjum
contingent liability are those liability which will be paid or may not be paid in future are called contingent liability.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / kiran
contingent liability is not a real liability,it is bocome a liability on condition,and it's shown in balance sheet foot note.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / anand
It is not a real time liability whether future events can be decided whether it is a liability or not. It shows the balancesheet under footnote
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vnktsh
contingent liability is a liability but it depends upon the happening of future event as usual it shown under liabilities
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / manik kakkar
A contingent liability is a potential liability that may occur, depending on the outcome of an uncertain future event. A contingent liability is recorded in the accounting records if the contingency is probable and the amount of the liability can be reasonably estimated.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / da
contingent liability which will show in balance sheet under footnote a
| Is This Answer Correct ? | 6 Yes | 8 No |
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