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
Answer Posted / ramana
b
Is This Answer Correct ? | 0 Yes | 3 No |
Post New Answer View All Answers
Feature of Master letter of credit of Garments manufacturing company?
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
where we use the convetion of conservatisam in real life??
Expand---------NMOP
Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry
which kind of expenses or Income will come under direct expenses or Income ?
differences between liabilities and assessts
different between acconting and elective mathematics
Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note
Why does one need a broker?
how will you create the posting periods 3 and 5 or 5and 7?
We did promotion activity for X co that co is our client ( S Dr) which we sold tickets through our vendor through out north india ... But those vendors adjusted cash with thir bill and remaining balance we received ,, Ticket amount we paid from our co Bank A/c to our client (S Dr) .the amount is too huge so how can i sort out this in books of acconts ..............
I have been interview in next week my posting is accounts officer i have be manage with AP,AR,BRS and GL what Books i have read.
sir i'm having exp as a HR-Recruiter, now i'm willing to work in other areas of HR.Is learning of accounting courses such as (Payroll mgmt,TDS, service tax, vat, provident fund, gratuity fund, Tally ERP.9 )is necessary? if so, kindly guide me what all accounting courses i need to study to work in other areas of HR. or what are the qualifications required to work in other areas of HR? 2)one of my friend would like to know the job profile for Finance admin..
state and explain THREE types of situation to which accounting concept might be applicable