Interested to Buy Any Domain ? << Click Here >> for more details...
Contingent liabilities should be recorded in the accounts
when
A) It is probable that the future event will occur
B) The amount of the liability can be reasonably estimated
C) Both A&B
D) Either A or B
- 5 Answers
- 13131 Views
- FactSet Systems, I also Faced
- E-Mail Answers
Answer Posted / balu
the amount of the liability cane be reasonably estimated
| Is This Answer Correct ? | 11 Yes | 12 No |
Post New Answer View All Answers
Expand----------SAMC
what is mean by account concept,and how to perpare a full accounting concept journal,ledger,trail balance,and balance sheet how it will prepare in upto fainalaztion.
what amounts to appropriation of profits? When provision for taxation does not amount to appropriation of profits?
Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?
what are the difference between banking institutions and financial institutions?
What is PE ratio formula ?
A specially designed interview book on interviews for accounting Jobs . Pl send your mail addresses for despatch
What is the procedure to take loan
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
Why in partnership fundamental question will add Partnership salary for the year and per month salry add in the cr. Side of the p/l app a/c
Hello Frd's This is Mohd NaseerUddin. Is Anyone can help me out to findout a Accounting Peachtree 7.2 note's aswel as Focus notes also Plsssssss helpme out to find it. My E-mail id is mohd_naseeruddin43@yahoo.com
In what cases can Convertible bonds be considerred as derivatives?
What does my credit score mean?
• What is depreciation and the method?
WHEN IN ADJUST. GIVEN THAT THERE IS VALUE OF RS...., OBSOLESCENCE STOCK INCLUDED IN CLOSING STOCK RS.......,WHAT IS THE PROPER WAY TO SHOW IN INCOME STATEMENT AND POSITION STATEMENT.
