What is a contingent asset

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Reference no: EM132651848

Provisions, contingent assets and liabilities and leases

Question 1: What provisions does the company have? Describe them and if possible, the movement or change in them during the year. What is a contingent asset and what is a contingent liability? How does a contingent liability differ from a provision? Does the company have any contingent assets and/or liabilities? Explain, showing estimated amounts. Does the company have any leased assets? If so, what are they and what did these assets cost the company in the last year?

Reference no: EM132651848

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