What is meant by contingent liability? Discuss the auditors duty in this regard.

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What is meant by contingent liability? Discuss the auditor’s duty in this regard.

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Fundamentals Of Auditing

ISBN: 9788131728857

1st Edition

Authors: Basu

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Question Posted: Feb 04, 2024 01:00 AM

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What is meant by contingent liability? Discuss the auditors duty in this regard.

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A contingent liability is a potential financial obligation that might occur in the future but the outcome and actual liability amount is uncertain It ...View the full answer

Fundamentals Of Auditing

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