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What is the meaning of " if there is a possible obligation or present obligation, Where the livelihood of an outflow of resources is *remote * No provision is recognised and no disclosure is required " What is the meaning of remote here
Answers (7)
Thread Starter
Christeena AmbelThen why it is not a contingent liability sir?
Because very little chance
Sahibdeep Singh
Because very little chance
Sir, Present obligation means " more likely to occur" na? It is said that, even if it is more likely Or if is less likely It should not be recognised if it is remote. So does remote mean small amount?
Thread Starter
Christeena AmbelSir, Present obligation means " more likely to occur" na? It is said that, even if it is more likely Or if is less likely It should not be recognised if it is remote. So does remote mean small amount?
Present obligation meaning existing. Possible obligation means may arise in future. And remote means, very less chance it will arise
Thread Starter
Christeena AmbelSir, Present obligation means " more likely to occur" na? It is said that, even if it is more likely Or if is less likely It should not be recognised if it is remote. So does remote mean small amount?
Possibility of that obligation is remote meaning very less chance of losing we will win the case
