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What is the difference between liabilities provisions and contingent liabilities?
Wiki User
∙ 15y ago
Provision made for known or specified liabilities which may occur in future is provision for liabilities whereas Contingent liabilitiy is provision made for unknown liabilities which may or may not occur in future.
Wiki User
∙ 15y ago
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What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
The difference between assets and liabilities is?
assets are what the business owned and liabilities are what the business owe.
What is the difference between vouching and verification of assets and liabilities?
What_is_the_difference_between_vouching_and_verification_of_assets_and_liabilities
Is Net worth is the difference between your assets and your liabilities?
Yes - it's the sum of your assets minus the sum of your liabilities.
What is the difference between a company's assets and its liabilities or its net assets is?
Equity
What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
The difference between assets and liabilities is?
assets are what the business owned and liabilities are what the business owe.
What is the difference between vouching and verification of assets and liabilities?
What_is_the_difference_between_vouching_and_verification_of_assets_and_liabilities
What are the differences between contingency and contingent liabilities?
Contingent liabilities are liabilities that might be incurred and the outcome is uncertain. They are recorded when the future events are probable to happen and the amount can be estimated reasonably. They include obligations related to product warranties. A contingency is an existing situation where there is uncertainty about possible loss or gain that will not be resolved in the near future.
Is Net worth is the difference between your assets and your liabilities?
Yes - it's the sum of your assets minus the sum of your liabilities.
The difference between assets and liabilities is called?
Net Worth or Equity
What is the difference between a company's assets and its liabilities or its net assets is?
Equity
What are the difference between long term liabilities and short term liabilities?
Long term liabilites are liabilities that are not due within 12 months (or within a year) and short term are those that are.
What is difference between provision liability and continget liability?
A provision is when it's grater than 50% chance of happening where as a contingent is less than that. You show a provision on the accounts but not the contingent.
What is the difference between outstanding assets and outstanding liabilities?
Outstanding assets are assets that are owed to an individual or business. Outstanding liabilities are debts that ill be incurred in the future.
What are the difference between co-operative society and joint stock company?
they ave unlimited liabilities
How do you calculate overdraft?
it is the difference between current assets and current liabilities which is the working capital gap
