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What is a contingent liabilities? whether you will include it in Balance Sheet?

Accounting Game Balance
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Question added by BIMAN BEHARI PODDAR , DEPUTY MANAGER ACCOUNTS/FINANCE , CRYSTAL CABLE INDUSTRIES LTD
Date Posted: 2015/03/11
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Hafiz Amjad Mehmood
by Hafiz Amjad Mehmood , Project Accounting Manager , Huta Group

Contigent Liabilities are the disputed liabilities which may be decided at any time mutualy or through court,, and yes they are shown in balace sheet.

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