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Question:  What is Contingent Liabilities?



February 02, 2006 23:37:53 #1
 kumar ERP Expert  Member Since: February 2006    Total Comments: 5 
RE: What is Contingent Liabilities?
 
A contingental liability may or maynot be liability to the company. It is mandatory to show in Balance Sheet. Ex:- Exgratia payable to Workers.  Sometimes company has to pay, sometimes may not pay.
     

 

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