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whatis meant by contigent liability
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Answer / prasad deshmukh
if liabality is occured on happening or non happening of
certain events. It may be remote or probable.
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / joe_birmingham
If liabality is occured on happening or non happening of
certain events. It can be considered as a contigent
liability.
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / sindujaramkumar
contigent liability is a liability which is not a liability
now but it may or may not become liability in future
for example : a case is pending in the court it may lead to
a faliure in future so that lot amount of money has to be
paid to the oppossition party
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kiran kumar
If liability arises when Some occurence or non occurence of
certain events or transaction will took place.It may or may
note be a liability for the future. And it is shown as a
Footnote Below the Balance sheet.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ali azgar
If liabality is occured on happening or non happening of
certain events. It can be considered as a contigent
liability.
| Is This Answer Correct ? | 0 Yes | 0 No |
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