Contingent liabilities are potential liabilities that may or may not occur, depending on the outcome of a future event. These liabilities are not recorded on the balance sheet as they are not certain or definite, but they are disclosed in the notes to accounts section to provide relevant information to the stakeholders of the company.
To study the trends in a firm’s cost of goods sold (COGS), the analyst should standardize the cost of goods sold numbers to common size basis by divi...
GeM is characterized by which of these three core elements?
Journal entry for recording of bad debt expense is which one among the following?
What is the journal entry for charging Depreciation under Cost Method?
Amount paid for stationery during 2022-23 ₹ 80,000
Creditors for Stationery on March, 31, 2023 ₹ 7,...
Any casual vacancy in the office of an auditor shall in the case of a company whose accounts are subject to audit by an auditor appointed by the Comptro...
Which of the following factors are likely to act as an obstacle for India to be a part of the global assembly chain for the Networked products?
In the case of a Government company the Comptroller and Auditor-General of India shall, appoint an auditor within a period of _____________ from the com...
Ramnaresh & traders initiated their business on 1st April 2007 with ₹ 12,000 by 6000 units at the rate of ₹ 2 per unit. During the year he sold thes...
Share Options Outstanding Account is shown on the liabilities side in the Balance Sheet under the head:
