Answer Posted / nitin

Contingent Liability is for sure liability if it happens,
if it did not happen there is no liability. However if it
happened it is treated as liability and shown in
liabilities section of Balance sheet.
Example:
Mr.L take loan from bank and make the guranter of loan to
Mr.G. Its fine if Mr.L returned loan to bank, suppose if he
fails to repay loan amount to bank then Mr.G need to pay
that loan amount. Hense it is liability for Mr.G

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hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com

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