The practise of appending notes regarding contingent liabilities in the accounting statement is in pursuant to
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The practice of appending notes regarding contingent liabilities in accounting statement is pursuant to Convention of Disclosure.
Explanation:
- Among the other convention, such as the convention of consistency or the convention of conservatism are not that pursuant in regard to the contingent liabilities when the appending notes are being practice.
- It is the convention of the disclosure, over the money measurement concept are being sought.
- The company is not sure about the existence of liability and is uncertain about the amount, when liabilities are contingent.
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