In the financial statements, contingent liability is ________
Contingent liabilities are potential obligations that may arise from past events and whose existence depends on uncertain future events. These liabilities are disclosed in the notes to financial statements if they meet certain criteria, but they are not recognized in the financial statements. Under the accounting principles, recognition of a liability in the financial statements requires that the liability meets the definition of a liability, the amount of the liability can be reliably measured, and it is probable that an outflow of resources will be required to settle the obligation. Contingent liabilities are not recognized in the financial statements because they do not meet the criteria for recognition.
Vljayanagar was founded on the southern bank of the river
Who discovered the sea route to India?
From the viewpoint of culture, the principle of regarding its beliefs, values, and practices is called:
The first Sultan to adopt the principle of measurement of cultivable land for determining the land revenue was
Who is known as the "Slave of a slave"?
Consider the following statements: In the reign of Jahangir, Kandahar could not be recaptured due to
Inef...
The only known ruler in the history of India to have fixed the prices of different commodities, rigidly enforced Market Control Policy and ensured easy ...
Who was the Viceroy of India during the Quit India Movement.
Akbar granted the present site of Amritsar to the Sikh Guru