Question

A company has filed a legal suit against competitive company claiming Rs. 5,00,000 for infringement of patent rights. The outcome of the legal suit is uncertain. The claim may be treated as ________ (a) Income (b) Contingent Asset (c) Provision (d) Contingent Liability

Answer 1

$<b1>$

A company has filed a legal suit against competitive company claiming Rs. 5,00,000 for infringement of patent rights. The outcome of the legal suit is uncertain. The claim may be treated as Provision.

So, the answer is :-

[C] Provision ✓✓

Answer 2

Hello Friend

Ans

Option.C

Thank you