------ is a liability which may or may not arise in future depending on happening of some uncertain future event. | Faculties

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Mr. Dubey

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📊 Corporate Accounting

Q. ------ is a liability which may or may not arise in future depending on happening of some uncertain future event.

(A) contingent liability
(B) bills for collection
(C) non-banking liability
(D) bills payable

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✅ Correct Answer: (A) contingent liability

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