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Question:  What is Contingent Liabilities?



May 05, 2007 18:59:27 #6
 sriram   Member Since: Visitor    Total Comments: N/A 
RE: What is Contingent Liabilities?
 
Contingent Liability is a liability which may or may not occur, but it should be shown in the Notes to Accounts.  It will not be a part of Balance Sheet.  we can say Disputed Liability of the co.,
     

 

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