What is contigent liabilites?

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

Wiki User

∙ 11y ago

What else can I help you with?

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?

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 are 'liabilites'?

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

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

-liabilites, +stockholder's equity

What are the five 5 accounting cycle defines?

cash expense revenue asset liabilites

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