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Durga Sai Kalyan

· started a discussion

· 1 Months ago

Explanation (Question:332311.0)

Contingent liability is writen on libility side of balance sheet and also in p and l account

Question:

Contingent Liabilities are shown:

Options:
A)

Credit side of Balance sheet

B)

Profit & Loss Appropriation Account

C)

Both Profit & Loss Account & Balance sheet

D)

None of the options

Solution:

Ans: (d)

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