The ability to meet short term obligations is termed

Q: What is meant by contingent Liability? How is it shown in final accounts?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Explain how the obligation for postretirement benefits is measured and how the obligation changes.

A: The answer for this question is given generally as each organisations can following their own…

Q: What are Contingent Liabilities?  Give an example.  What are the factors that determine the reason…

A: A liability, the occurrence of which is uncertain that is it may or may not occur is known as a…

Q: What is the effect of the fulfillment of the condition in a conditional obligation? resolutory…

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

Q: what conditions are not necessary to exclude a short term obligation from current liabilities?

A: Current liabilities: It refers to short term financial obligations that are to be discharged within…

Q: A. It is probable that an outflow of economic benefits will be required to settle an obligation B.…

A: Option D

Q: Differentiate between the accumulated benefit obligation and the projected benefit obligation.

A: ABO (Accumulated benefit obligation) and PBO (Projected benefit obligation) are similar in most of…

Q: Differentiate between Current liabilities, Non-Current Liabilities and Provisions. Provide an…

A: The liabilities are the amount payable by the business to the outsiders or creditors.

Q: Define the contract liabilities.

A: Liability: Liabilities include the claims of the creditors on the assets of the business. The…

Q: Describe the obligations of long term liabilities.

A: Long-term liabilities: Long-term liabilities are obligations that the company needs to pay after at…

Q: how payment or performance extinguishes an obligation.

A: An obligation arises when an agreement made between parties satisfies all the necesaary conditions…

Q: Define contract laibilities.

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Contingent liabilities are obligations that may or may not materialize

A: Contingent liabilities are obligations that may or may not materialize will be explained:

Q: Define asset retirement obligations (AROs).

A:

Q: What is meant by a term-loan agreement?

A: A Loan Agreement, also known as a term loan, demand loan, or loan contract. It basically is a legal…

Q: Can you please describe contingent liabilities and how to account for and/or report

A: Contingent liabilities are defined as liabilities that occur in the future. These liabilities are…

Q: Differentiate between long term liability and short term liability?

A: First of all, let is understand what a liabilty is - Any amount or sum a business or company  is…

Q: Is it possible to distinguish between long-term liability and short-term responsibility?

A: The Answer:

Q: Describe the obligations of postretirement.

A:

Q: gent liab

A: Contingent Liability A contingent liability is an obligation that may arise as a result of the…

Q: Describe the terms of  Contingent Liabilities with examples.

A: Contingent liability: This is an uncertain obligation that might be incurred on a future date as a…

Q: What is the relationship between provisions, onerous contracts, contingent liabilities and other…

A: The book in which the company records all its transactions initially is termed as journal book. From…

Q: What Is Benefits of Long-Term Contracts?

A: Long-term contracts are the contracts which runs over number of years. Long-term contracts are also…