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Practicing Success
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| Under which of the following head, Claims against the company not acknowledged as debt are shown? |
Capital Commitments Current Liabilities Contingent Liabilities Non-current Liabilities |
| Contingent Liabilities |
| The claims against the company not acknowledged as debts are shown as notes to the balance sheet/contingent liabilities. All claims that the company does not acknowledge as debts should be disclosed. Claims against the company by the labour union for additional wages, compensation, etc. come under this category. |
