What do you mean by contingent liability?

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What do you mean by contingent liability?..

Answer / jubeda

CONTINGENT LIABILITY IS THAT IT IS TO BE PAID OR NOT IN
FUTURE ITMEANS IT MAY ARISE/N

Is This Answer Correct ?    17 Yes 0 No

What do you mean by contingent liability?..

Answer / shraddha desai

Contingent liability is libility which may or may not occur
in future

Is This Answer Correct ?    13 Yes 0 No

What do you mean by contingent liability?..

Answer / jubeda

CONTINGENT LIABILITY IS THAT IT IS TO BE PAID OR NOT IN
FUTURE ITMEANS IT MAY ARISE/N

Is This Answer Correct ?    9 Yes 1 No

What do you mean by contingent liability?..

Answer / krishnaveni

contingent liabilities means these are not the real
liabilities future event can only decidethat is the
contingent liabilities

Is This Answer Correct ?    7 Yes 0 No

What do you mean by contingent liability?..

Answer / shraddha

contingent liablity means the liability which may or may
not arise.

e.g. discounted bill with bank,arrears of dividend.

Is This Answer Correct ?    4 Yes 0 No

What do you mean by contingent liability?..

Answer / nagarjuna

contingent liability:- virtually it is not liability. which
depend upon occurance or non-occurance on specified event.

Ex: Pending on court case, arrears of dividends etc

Is This Answer Correct ?    3 Yes 0 No

What do you mean by contingent liability?..

Answer / raju(sks micro finance)hyd

An obligation to an existing condition or situation which
may arise in future depending on the occurrence of one or
more uncertain future events.

Is This Answer Correct ?    3 Yes 0 No

What do you mean by contingent liability?..

Answer / aabid zulfi

Contingent liability
means it is a liability
which is shown in the
books of accounts but
is not actually payed.

Is This Answer Correct ?    1 Yes 0 No

What do you mean by contingent liability?..

Answer / bapi ranjan dass

Contingent liabilities are those which are shown in the books of accounts but it may or may not payable in future.

Is This Answer Correct ?    1 Yes 0 No

What do you mean by contingent liability?..

Answer / barodianbuddy(acca)

A POSSIBLE OBLIGATION THAT ARISES FROM PAST EVENTS AND WHOSE EXISTENCE WILL BE CONFIRMED ONLY BY OCCURRENCE & NON OCCURRENCE OF ONE OR MORE UNCERTAIN EVENTS. EG. UNCERTAIN EVENT, PENDING LEGAL DECISION.

Is This Answer Correct ?    1 Yes 0 No

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