INTERVIEW QUESTIONS ACCOUNTING PROCESS CONTINGENT ASSETS AND CONTINGENT LIABILITIES DETAILS

Question: Is it possible to calculate the planned activity output through system?

Answer: (d) Debts included in debtors which are doubtful in nature
Description: Debts included in debtors which are doubtful in nature are not contingent liability but these are in the nature of loss. All the other items are contingent liability as their occurrence is beyond the control of the organisation.

(d) Debts included in debtors which are doubtful in nature
Description: Debts included in debtors which are doubtful in nature are not contingent liability but these are in the nature of loss. All the other items are contingent liability as their occurrence is beyond the control of the organisation. Source: CoolInterview.com

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