Current, non-current and contingent.?

What are the types of liabilities?‎

Question added by Sathya Kannan , Sr.Accountant , Grace Laser Jet Technology
Date Posted: 2024/03/30

Upvote (0) Views (1) Followers (1) Answers (0) Report Question

Be the First to Answer
Register now or log in to answer.

What are the contingent liabilities and where does it reflects in the balance sheet?
Top Answer: <p><strong>Contingent liability:</strong></p> <ul><li style="displa ... See More

Answers (6)
Contingency planning should include all but which of the following?
Top Answer: B. Contingencies are likely incidentals that you can't determine but estimate and such estimates are budg ... See More

Answers (2)
A liability arising from a loss contingency should be recorded if the ?
Top Answer: Contingent future events will probably occur and the amount of the loss can be reasonably estimated. Opt ... See More

Answers (3)
Current liabilities unless the creditor has waived the right to demand repayment for more than 1 year from the balance sheet date.
Top Answer: A. Long-term liabilities B. Current liabilities unless the debtor goes bankrupt C. Current liabilities ... See More

Answers (14)