Interested to Buy Any Domain ? << Click Here >> for more details...
What is the meaning of Contingent Liability? Where is it
shown in the Balance Sheet?
- 5 Answers
- 14696 Views
- Thomson, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manojs
it is a liabilty which may or may not arise in case of any
event or contigency
it is shown as a foot notes in the balance sheet
| Is This Answer Correct ? | 24 Yes | 3 No |
Answer / muhammed noushad
Contingent liability we are shown this in the liability
side under the head of contingent liabiliteis its the type
of liability which is emideate create.we are only show it
in the balance sheet it doe's not show any effect on
balance sheet total.
it is a liabilty which may or may not arise in case of any
event or contigency
it is shown as a foot notes in the balance sheet
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / sukanya reddy
contingent liabilities are those liabilities which may or
may not happen. they are contingent or dependant on future
event, which may or may not happen. example is lawsuit or a
legal proceeding. They are not reported as a liability in
the balance sheet. if it is significant it will be reported
into the notes to accounts in the financial statements.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / ajay kumar
Contingent Liability to be shown in the balance sheet on the
liability side that is one of the liability in the company
| Is This Answer Correct ? | 14 Yes | 19 No |
Answer / raman kumar
Contingent liability we are shown this in the liability
side under the head of contingent liabiliteis its the type
of liability which is emideate create.we are only show it
in the balance sheet it doe's not show any effect on
balance sheet total.
| Is This Answer Correct ? | 11 Yes | 17 No |
what is private sector banking and public sector banking
1 Answers State Bank Of India SBI, TATA,
Suppose One asset purchased in 2006year and calculated SLN method depreciation @10%pa for value 100000. Now middle of the present year the assets was transfered to B company. How can we take the accounting for previous depreciation, asset value (transfer value) to debit B company. What is the asset status in BS.
Expand ------MIAI
i am a mba fresher and i'm learning oracle finance.please give me ur valueble suggetions about my career in oracle finance? what r the requirements 2 get a good job in time?
What is State Cheque?
double-entry bookkeeping system
Suppose the production is more and sales less then what will happen
what is assessment? how many types of assessment will be there? and what is the documents and preparations for sales tax, service tax assessments??
What are the duties of sales tax department? Explain it
What do you mean by Adjustment
How to maintain Purchase Orders ? Please explain by proper format.
Expand F A Qs
Audit 
