Further matters for final accounts
a. Contingent liabilities Contingent liabilities are those which may become real liabilities on the happening of some specific event. Thus, if a business guaranteed the repayment of a loan made, say, to
a. Contingent liabilities Contingent liabilities are those which may become real liabilities on the happening of some specific event. Thus, if a business guaranteed the repayment of a loan made, say, to