There are three types of liabilities like: Current, non-current and contingent?

Question ajoutée par Subash Dhungana , Relationship Manager , Kumari Bank Limited
Date de publication: 2024/02/07

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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 ... Voir Plus

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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 ... Voir Plus

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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 ... Voir Plus

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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 ... Voir Plus

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