Q384
Municipal tax Rs.6000 under dispute is a
A.
Contingent liability
AnswerB.
Revenue expenditure
C.
Current liability
D.
Current asset
Answer: Option A
Solution
Answer: Option A
Solution:
Municipal tax Rs.6000 under dispute is a Contingent liability. Contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit.