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This query is : Resolved
Guest
Guest
(Querist)
11 July 2008
in a internal reconstruction what is the meaning of continngent liabilities . & why we write off goodwill as it is not a fictious assets , it is a intangible assets .in a reconstruction account there is any credit side balance . if this situation is satisfied so where we t/f the balance capital reserve or any other account
12 July 2008
Any liability the occurrence of which depends upon the happening of an event is Contingent liability.
Good will written off over a period because it is intangible not backed by any tangible asset. Also though its existence is certain value is perception-
based.
Good will written off over a period because it is intangible not backed by any tangible asset. Also though its existence is certain value is perception-
based.
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