Contingent liability
Revenue expenditure
Current liability
Current asset
✅ The correct answer is A.
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.
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.