0
I liability that may be incurred depending upon future event(s)
Example- let there is a claim on a company existence of that liability is depends on decision of court so existence of that liability is uncertain so we can say that contigent liability is that liability which may occur or may not. ..
What else can I help you with?
How is treasury bond shown on a balance sheet?
contigent liability
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.
What is the meaning of outstanding liability?
The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
Does a debit decrease liability?
Yes, a debit decrease liability and a credit increase liability. if a debtors/customer make the repayment obligation, it will decrease debtors, meaning decrease in liability.
Is Creditors an asset or liability?
Current Liability
Is Mortgage a contigent liability?
no
How is treasury bond shown on a balance sheet?
contigent liability
What is the meaning of contigency?
I liability that may be incurred depending upon future event(s) Example- let there is a claim on a company existence of that liability is depends on decision of court so existence of that liability is uncertain so we can say that contigent liability is that liability which may occur or may not. ..
What is contigent liabilites?
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
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.
What is liability economics?
what is meaning of liability in accounting
What is a word meaning legally responsible?
Legal Liability. Liability.
What is the meaning of outstanding liability?
The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
Meaning of carve back in liability insurance?
an exception
What is the meaning of W.L.L?
With Limited Liability in a business organization
What is an example of a liability?
Liability is another way to ask "who is responsible?" If i hit another car, intentional or not, i am liable for the damages to the other car as well as my own. If i threw a book at a friend and knocked a tooth out, i would be liable for the costs associated with my friends tooth being repaired. Whether or not you mean to do something, you are still "responsible" for your actions and the subsequent reactions.
Which of these makes contigent workers an advantage to an employer?
the employer does not have to pay fringe benefits
