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Contingent liabilities are potential obligations that may arise from past events and their existence is uncertain, depending on the occurrence or non-occurrence of one or more future events not within the control of the entity. When the outflow of resources to settle the obligation is not probable, or the amount cannot be measured with sufficient reliability, the entity recognizes a disclosure in its financial statements in the form of a note or footnote. This disclosure informs the users of the financial statements about the potential liability and the possible impact on the entity's financial position and performance.
An acceptor or indorser of negotiable instrument is bound by his acceptance or indorsement
As per IPC provisions preparation stage of crime is punishable in following except _____
The question is, whether A committed a crime at Calcutta on a certain day.
The fact that, on that day, A was at Lahore is relevant.
Whi...
Any court may alter or add to any charge any time before:
What is the period of limitation given in Schedule of Limitation Act for a Bill of exchange and a promissory note?
Which of the following amendment is known as the Mini-Constitution?
Under Section 22 of the BharatiyaSakshyaAdhiniyam , when is a confession made by an accused person considered irrelevant in a criminal proceeding?
A person who finds goods belonging to another, and takes them into his custody, is subject to the same responsibility as a____________
A desires, a court to give judgment that he is entitled to certain land in the possession of B or basis of certain facts. Which 'B' denies to be true un...
To facilitate the conduct of arbitral proceedings, who can arrange for administrative assistance under the Arbitration and Conciliation Act?