Interested to Buy Any Domain ? << Click Here >> for more details...
What is contingent liability?
- 16 Answers
- 47659 Views
- Al Fara, Combined Fabrics, Scope International, Syntel, I also Faced
- E-Mail Answers
Answer Posted / pravin kale
Contingent liabilities are liabilities that may or may not
be incurred by an entity depending on the outcome of a
future event such as a court case. These liabilities are
recorded in a company's accounts and shown in the balance
sheet when both probable and reasonably estimable. A
footnote to the balance sheet describes the nature and
extent of the contingent liabilities. The likelihood of
loss is described as probable, reasonably possible, or
remote. The ability to estimate a loss is described as
known, reasonably estimable, or not reasonably estimable.
| Is This Answer Correct ? | 60 Yes | 10 No |
Post New Answer View All Answers
what is the meaning of (PDD’s, DOD’s, CFR’s,) based on understanding of the business process
Indian Iran Gas pipeline
How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?
EXPAND______________ICT
HOW TO CALCULATE ESI,P.F,VAT,I.TAX,EXCISE,C.S.T.REFUND CLAIM, E.T.C. IF YOU KNOW ANY OF THIS PLASE REPLY
What is PE ratio formula ?
what is account & what is finance
.,can someone tell me how to compute the subscribed capital share?
Expand-------ATBN
paid two years rent N1200, bought Motor van for cash N3000
legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?
MMT and MID payment how post in tally
explain about mergers & aquisitions? asked on 30/7/09
1. The controlling department wants to see depreciation amount on internal orders. Which customizing setting do you need to make in asset accounting?(any 3 answer) Make the internal order in active assignment object. Make the internal order an account assignment object for the depreciation run. Set the field internal order to required or optional in the screen layout. Enhance relevant transfer variant by adding the field internal order. Assign the field internal order to account determination.
what is span of shares
