VINOD KUMAR

• Jul 9th, 2012

Contingent liabilities are subjected to occurrence or not of a future event. Means a liability may be arise in future or not , it all depends on a future event. So these are not actual liabilities and shown as a foot note after balance sheet .

mahesh,dilip

• Jun 22nd, 2012

Contingent liability refers to liabilities which may or may not occur in the future. eg:court case

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