CONTIGENT LIABILITYES
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Answer Posted / arvind singh
Contingent liabilities are those types of liabilities which
occurrence is depend upon happening of any event in
future.EXAMPLE LIKE
A SUIT IS FILED AGAINST M/S A DUE TO THE CHARGE THAT THEY
USE THE COPY WRIGHT OF /MS B.SO,THE RESULT OF CASE
DETERMINE THAT WEATHER M/S A HAVE FEEL NEED TO PAY ANY
PENALTY TO COURT OR NOT.
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