Accountancy, asked by anandapaulosp, 10 months ago

what is the contingent assets?

Answers

Answered by aryan12326

Answer:

.A contingent asset is a possible asset that may arise because of a gain that is contingent on future events that are not under an entity's control. According to the accounting standards, a business does not recognize a contingent asset even if the associated contingent gain is probable.

hope it will help u mate

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