Answer Posted / k.sudhakar reddy
contingent means which may happen or not happen in future,
contingent liabilty means the liabity may be or may not be
be happen happen in the future event.the event will be
favoir for us then it will should not called as an
contingent liabilty but when the event will happen against
for us expectation then it should be called as "a liabily"
until the happen of future even we should treat the
contingent liabilty so we will be shown foot note of the
balance sheet.
The best example for this : a pending transation in a court
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
emplementation of accounting standerds in Bangladesh, developing or copieng?
While selling fertilisers can we charge VAT on excise duty.
Expand---------PSRT
What is revaluation of assets.when it occurs
what is undisclosed profit? 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?
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
differnce between the 4.7 & 6.0 versions?
Can you explain about the distinction of Book-Keeping and Accounting
Expand---------PED
is indian bank or canara bank CBS brach?
SOUTH ATLANTIC OIL AND GAS INC.is a fraud company
how Mis reports are used?n why it is used ? explain
describe the most complex challenge that you have faced and how you managed it
what are the important steps to take during the conversion of an accounting system.
