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What should a company disclose under "Contingent liabilities and commitments (to the extent not provided for)" in its balance sheet?
  • a)
    Estimated amount of contracts fully executed
  • b)
    Outstanding dues to trade payables
  • c)
    Investments in subsidiary companies
  • d)
    Guarantees and unsettled claims against the company
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
What should a company disclose under "Contingent liabilities and ...
Under "Contingent liabilities and commitments (to the extent not provided for)," a company should disclose guarantees and unsettled claims against the company. This section provides insight into potential liabilities and obligations that may arise in the future but are not fully recognized or accounted for at the balance sheet date.
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What should a company disclose under "Contingent liabilities and commitments (to the extent not provided for)" in its balance sheet?a)Estimated amount of contracts fully executedb)Outstanding dues to trade payablesc)Investments in subsidiary companiesd)Guarantees and unsettled claims against the companyCorrect answer is option 'D'. Can you explain this answer?
Question Description
What should a company disclose under "Contingent liabilities and commitments (to the extent not provided for)" in its balance sheet?a)Estimated amount of contracts fully executedb)Outstanding dues to trade payablesc)Investments in subsidiary companiesd)Guarantees and unsettled claims against the companyCorrect answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What should a company disclose under "Contingent liabilities and commitments (to the extent not provided for)" in its balance sheet?a)Estimated amount of contracts fully executedb)Outstanding dues to trade payablesc)Investments in subsidiary companiesd)Guarantees and unsettled claims against the companyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What should a company disclose under "Contingent liabilities and commitments (to the extent not provided for)" in its balance sheet?a)Estimated amount of contracts fully executedb)Outstanding dues to trade payablesc)Investments in subsidiary companiesd)Guarantees and unsettled claims against the companyCorrect answer is option 'D'. Can you explain this answer?.
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