Accountancy, asked by mwchang, 1 year ago

contingent liability will appear
(1) in trading account
(2) in profit and loss account
(3) in balance sheet
(4) outside the balance sheet as a footnote

Answers

Answered by AbhilashaM

0

4) Outside the balance sheet as a footnote.

Contingent liability is never recorded in the balance sheet.

AbhilashaM: Thanks for brainliest! :D

mwchang: welcome

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