Contingent liabilities do not fi nd any place in the balance sheet, yet these are the critical
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“Contingent liabilities do not fi nd any place in the balance sheet, yet these are the critical factor affecting the financial position of a business enterprise.” Explain.
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Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of uncertain future events These liabilities do not appear on the balance sheet but can have a si...View the full answer
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