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guarantee

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(Querist)
14 February 2009 when there is a contingent liability in form of a bank guarantee, under what head should i group it under?
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
02 March 2009 it should be shown under contingent liability. the amount of contingent liability should not be added in the balance sheet total.

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