Question
Which of the following is not considered as a Current
Liability?Solution
Contingent liabilities are potential obligations that may arise depending on the outcome of future events. They are not actual liabilities until a certain event occurs, and their recognition depends on the probability of the event happening. Contingent liabilities are disclosed in the financial statements but are not recognized as current liabilities.
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In the following question, four statements (A), (B), (C) and (D) are given, two of which are at their correct positions and the positions of the other t...
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- In each of the questions given below, four words are given in bold. These four words may or may not be in their correct position. The sentence is then foll...
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Traders bet on stock price particular (A) without incurring (B) a real transaction to take physical ownership (C) of a movements (D) stock as is done in...
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