A

Admin • 833.24K Points
Coach

Q. Contingent liabilities are shown:

  • (A) In the Balance Sheet
  • (B) In the Profit and Loss Account
  • (C) As a footnote in the Balance Sheet
  • (D) Nowhere
  • Correct Answer - Option(C)
  • Views: 24
  • Filed under category Accounting
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Explanation by: Admin

Contingent liabilities are not recognized but disclosed as notes to accounts.

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