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Expenses that comes under "contingency"

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(Querist)
07 February 2018
What are the expenses that comes under " Contingency". Kindly reply.
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Arpit

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Arpit (Expert)
13 February 2018 mainly legal cases which you are likely to loose or chances of losses are high comes under the contingency head. If any dispute is going on with any creditor and where the possible outflow of money is certain then also contingent liability is created
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