Which among the following items does not appear on the main face of the balance sheet of a company?
- AReserve and Surplus
- BShare capital
- CContingent Liabilities
- DFixed assets
Solution & Step-by-step Explanation
Contingent Liabilities are not recognized inside the main columns/totals of a company's Balance Sheet because they represent potential liabilities whose occurrence depends on uncertain future events. Instead, they are disclosed separately under the "Notes to Accounts".