Chapter 4
Current Liabilities
162
AS-28 (
8
)
Describe how a company accounts for contingent liabilities in its accounting records.
AS-29 (
9
)
List some basic practices that a company can implement to control its current liabilities.
AS-30 (
9
)
List some possible sources of accounting fraud related to current liabilities, and what a
company can do to avoid becoming a victim of fraud.
