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Mention two contingent liabilities.

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Question

Mention two contingent liabilities.

Very Short Answer
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Solution

Examples of contingent liabilities include liability for discounted bills, disputed claims, damage suits and loan guarantees.

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Chapter 7: Final Accounts of Sole Proprietorship - EXERCISES [Page 120]

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Goyal Brothers Prakashan Commercial Studies [English] Class 10 ICSE
Chapter 7 Final Accounts of Sole Proprietorship
EXERCISES | Q 11. | Page 120
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