أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
Contingent liabilities are those liabilities which can crystallize into a real liability on the happening of certain event or occurrence. Eg a pending case in court of law where the company is the accused and a suit has been filed against the co for USD1,,.
Such liabilities should be mentioned as notes to account.
