Define (a) Contingent liabilities and (b) Commitments and explain briefly why contingent liabilities and commitments may present
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Define
(a) Contingent liabilities and
(b) Commitments and explain briefly why contingent liabilities and commitments may present problems for the auditor.
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a Contingent Liabilities Contingent liabilities are potential future obligations that could become actual liabilities depending on the outcome of an u...View the full answer
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My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
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Related Book For
Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
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