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.
Select the option that expresses the given sentence in indirect speech.
The priest said to me, “You have committed a cardinal sin.”
Choose the option that is the direct form of the sentence.
Vikas said to Navin that he hadn’t met him since February the previous year.
He said to me, "May God bless You."
The principal of the school says that they don’t favor ragging.
Select the most appropriate direct form of the given sentence.
She demanded of her younger brother why he had taken her paints without her permission.
Select the most appropriate indirect form of the given sentence.
Taru said, “Kavya is going to her grandmother’s house today for the weeken...
In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best expres...
She told the villagers that she would not rest till she had solved their water problem.
Select the option that expresses the given sentence in indirect speech.
Rita said, “I’m not feeling well.”
Choose the option that is the indirect form of the sentence.
“I’m hungry” said the child to his mother.
