WHAT IS NATURE OF CONTINGENT LIABILITY AND HOW IT NEED TO BE DISCLOSED IN F STATEMENTS?

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What do we mean by contingent liabilities & commitment ?
Posted by:
Dasarathi Rath
15-June-2014

Question ajoutée par PRASANT KUMAR PANIGRAHI , Sr. COMMERCIAL MEMBER OPT.-2 , MARICO LIMITED
Date de publication: 2014/12/09

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par Abhishek Jain , Chief Financial Officer (cfo) , Super Group

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.

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WHAT IS NATURE OF CONTINGENT LIABILITY AND HOW IT NEED TO BE DISCLOSED IN F STATEMENTS?

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