What Is Contingent Liability?

1.	What Is Contingent Liability?
Answer» CONTINGENT Liability is the liability which MAY / may not occour in future... So, it is shown as NOTES rather then in BALANCE sheet... Once, the liability BECOME's real then it will recorded in books. Contingent Liability is the liability which may / may not occour in future... So, it is shown as notes rather then in balance sheet... Once, the liability become's real then it will recorded in books.

Answer»

CONTINGENT Liability is the liability which MAY / may not occour in future... So, it is shown as NOTES rather then in BALANCE sheet... Once, the liability BECOME's real then it will recorded in books.

Contingent Liability is the liability which may / may not occour in future... So, it is shown as notes rather then in balance sheet... Once, the liability become's real then it will recorded in books.

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What Is Contingent Liability?

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