what is contingent liability
Answers were Sorted based on User's Feedback
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 |
What is Cheque Discount?
Hi, I did MBA Finance in 2007 but i am from science back ground. And for the past 3 yrs i worked as im Admin and as a IT recruiter. Could any tell me what are the questions generally asked for MBA Finance position? i am looking to pursue a career in Finance
What do you know about Bank assurance?
What idea do you have about E- Commerce?
0 Answers State Bank Of India SBI,
What is RONA?
What Is The Difference Between Cost And Expense?
Giving a Loan and Credit Provision. What are the differences and the similarities of the two?
The crr, cash reserve ratio of scheduled banks is fixed at a certain percentage of their ndtl. What is ndtl?
How can the analysis of financial statements be carried out?
What is Stock Dividends?
What is a term loan agreement? What are its various clauses?
What is Finance Function