Which of the following is/are example(s) of contingencies in accounting?

Question

(a) Compulsory acquisition of part of land of the company by the Government

(b) A suit filed by the employee against the company

(c) A debtor of the company is declared insolvent, resulting in bad debts to the company.

(d) All of (a), (b) and (c) above.

مستخدم محذوف‎ · Answer

A suit filed by the employee against the company

Sadananda Poojary · Answer

Option D - All of (a), (b) and (c)

Abdus Samad Kharadi · Answer

(d) All of (a), (b) and (c) above.

IMTIAZUR RAHMAN · Answer

Option (d)- All of a, b & c.

Ahmed kandil · Answer

Answer D is the correct answer

IMRAN ALI MOHAMMED · Answer

(b) is the correct answer as it is not certain or you cannot predict about the outcome of the case, that is what contingency stands for. Regarding (a) the government compensates for the acquisition of land so the company loses nothing  (b) bad debts : They are common in every firm and it also mainly depends on the effective implementation of firm's credit policy.

Malik Mohamed · Answer

a should be the right answer in accounting perception.

b is a labour problem

c is a part of provision

Muhammad Asif · Answer

a suit of filed by employee against company is contingency for the company and option c depends upon the company policy only..

Sujitha Santhosh · Answer

Option d - all of a;b &c as all these events outcomes have lack of certainty

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN · Answer

Answer option(d) >>>>>>>>>>>>>>> All of (a), (b) and (c) above.

In all situations contingency prevails for accounting considerations.

Ahmed Ali Khan Patan · Answer

The right Option is (d) the above three case are contingencies in accounting.

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Which of the following is/are example(s) of contingencies in accounting?

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