Present liability of uncertain amount, which can be measured reliably by using a

Question

Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as

Options:

A . Contingent liability

B . Liability

C . Provision

D . Reserve

Answer: Option C

Submit Your Solution Below and Earn Points !

Next Question

More Questions on This Topic :

Question 1. When the goods are returned to a supplier....

Question 2. Bills receivable endorsed are debited to....

Question 3. Del-credere Commission is allowed to cover....

Question 4. Interest on Capital is _____ for the business....

Question 5. Accounts payable has ____ balance....

Question 6. The concept that "an accountant shouldn't anticipate profit, but must provide for all losses"....

Question 7. Reserve capital means....

Question 8. Patents accounts are....

Question 9. Revenue from sale of product ordinarily is reported as part of earning in the period....

Question 10. When will the bill mature if the date of maturity of a bill is a holiday....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

DSP Combined 1 Free Revision Test SAIL JO E-0

GPOE / GPA Combined 1 Free Revision Test SAIL JO E-0

BSP Plant Specific Review Test SAIL JO E-0

BSL Combined 1 Free Revision Test SAIL JO E-0

GFM Combined 1 Free Revision Test SAIL JO E-0