A

Admin • 833.24K Points
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Q. Which of the following is a contingent liability?

  • (A) Bills payable
  • (B) Debentures issued
  • (C) Bank guarantee
  • (D) Sundry creditors
  • Correct Answer - Option(C)
  • Views: 24
  • Filed under category Accounting
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Explanation by: Admin

A bank guarantee is a possible liability depending on future events, hence contingent.

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