What do you mean by contingent liability?
- 10 Answers
- 16213 Views
- Siemens, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
What are the steps to take before you approve an invoice for payment?
Entry for revenue item will be Expenses A/C Dr to Cash. But in the Profit and Loss account we will see the expenses with a pre fix of To Expenses Why?
Do you think there is any difference between inactive and dormant accounts?
Ledger Enteries
Where a cash discount should be recorded in a journal entry?
Define depreciation and its types?
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
Other accounting interview questions to expect when you interview for an accountancy job include:
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
What are the purposes of maintaining control ledgers?
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
What are the steps involved in project implementation?
What is a business transaction in accounting?
I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.
