Class/Course - CA - CPC

Subject - Fundamentals of Accounting

Chapter - Contingent Assets and Contingent Liabilities

Attention CA - CPC standard Aspirants! Just Exam provide a platform to all students who want to make practice for various subject online. We prepare this platform on the base of CBSE. If you want to join our unlimited test series, then please write us at about your class/course

Dear User, Kindly login/register to view answer & explanation of each question.
Click here to Login/Sign Up.
Q.1 Which of the following is not a difference between a provision and contingent liability?
  A provision meets the recognition criteria whereas a contingent liability fails to meet the same.
  Provision is a present liability of uncertain amount whereas contingent liability is a possible obligation which arises from past event.
  Provision can’t be measured whereas contingent liability can be accurately measured.
  None of the above.