CUET Preparation Today
| Contingent Liabilities are exhibited under which heading/sub heading as per Schedule III of the Companies Act 2013? |
Fixed Liabilities Current Liabilities Non Current Liabilities Foot Note |
| Foot Note |
| The principle of full disclosure requires that all material and relevant facts concerning financial performance of an enterprise must be fully and completely disclosed in the financial statements and their accompanying footnotes. Hence, contingent liability is recorded in balance sheet as footnote. |
