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    chandra mohan's Avatar
    chandra mohan Posts: 11, Reputation: 1
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    #1

    Apr 29, 2008, 11:08 AM
    Contingent liabilities
    Where do you place continget liabilities in balance sheet?
    delite's Avatar
    delite Posts: 202, Reputation: 3
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    #2

    Apr 29, 2008, 09:00 PM
    I believe a contingent liability actually depends upon something to occur at some moment but time is not fixed.you would open a separate catatagory for contningences, given them a fixed period to become noncontingnet liabilites.after period is over any contingences not recognized is just a note to the financial statement..
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