Accounts & Finance Manager
Accounts & Finance Manager Interview Questions and Answers for Freshers
Updated 22 Jun 2024
Q1. How do you tackle contingent liability
Ans.
Contingent liabilities are potential liabilities that may arise in the future, such as lawsuits or warranties.
Identify and assess the likelihood of the contingent liability occurring
Estimate the potential financial impact of the liability
Disclose the contingent liability in the financial statements
Monitor and reassess the liability regularly
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