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What is contigent liabilites?

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Anonymous

∙ 11y ago
Updated: 8/19/2019

1. Contingent liability is a liability the occurance or some information of which is dependable on the occurance of any future incidend until that liability is not confirmed

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Wiki User

∙ 11y ago
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Related Questions

Where contigent liabilites are shown in balance sheet?

Contingent liabilities does not show in balance sheet rather it is provided in notes to financial statements as a note about contingent liability and detail etc.


Is Mortgage a contigent liability?

no


What is expense accrual?

Expense accurals is a liabilites


The claims of creditors against the assets are?

Liabilites


How is treasury bond shown on a balance sheet?

contigent liability


What type of liability is salaries payable?

Current liabilites


Which of these makes contigent workers an advantage to an employer?

the employer does not have to pay fringe benefits


How do you calculate net current assets?

It is current assests minus current liabilites


What are 5 major categories of bookkeeping systems?

Asset Liabilites Equity Revenue Expenses


What is the effect of performing services on account on the basic accounting equation?

-liabilites, +stockholder's equity


What are 'liabilites'?

Liabilities are those amounts which payable by the company to third parties or to it's onwers.


What are the five 5 accounting cycle defines?

cash expense revenue asset liabilites

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