Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / babu
contingent liability is the futur depended event that may
occur or may not occur in futur.
Best example:if a person gave assurense to another person
for the bank loan or something, fisrt person will be the
liable for the debt/loan if other person doesnt pay the
loan. then it will become the contingent liability for the
fist person.
if the amount is reasonably knows that we can show it in
b/s as contingent liability.
| Is This Answer Correct ? | 14 Yes | 0 No |
Post New Answer View All Answers
What do u mean by pass through expenses? give examples, how it will be accounted & billed?
1.tell about urself? 2.wt is BRS? 3.VAT? 4.Golden principle of accounting?
Classify bank account, stock of stationary account, returns inward account ou$tstanding rent account and capital account into real, personal and nominal account.
What is the use of final account?
Hi frnds, can any one tell me how much funds has to be there to convince financially sound during the visa interview and what supporting documents has to be produced. What is backlogs means.....hope the best known will answer.
why you would like to work for the our(AIRLINE) Group ???
Name the Accounting Concepts
What is the Technology used to carry out trades?
We have two mandatory qualifiers nature of accounts and balancing segment, which will balance the debit and credit and recognize the nature of accounts, my question is what other qualifiers do. Like management. Thank you.
plz tell me short cut method in maths for clerck post in bank
Example for extra ordinary expenditure?
you went outside to purchase vegetagles, suddently big rain came then what you will do
I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?
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?
Since the interest rates on fixed deposits are very low as compared to the other growth oriented investment options, what are the permitted investment options that a public trust like that of a private school or small credit societies have and which are permitted by charity commissioner, Mumbai
