What do you mean by Contingent liabilities ?
Answer:The liabilities which are not actual liabilities on the date of balance sheet but may be actual liabilities later on are called Contingent liabilities.
Question: Is "Bill of Exchange" a contingent liabilities ?
Answer:A bill of exchange is a non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date
Question:What are the basic functions of non bank financial institution?
Answer:Raising funds from surplus unit throgh issuing share and invest this funds into govt. and non-govt. Securities.
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