Contingent Liabilities
2. CONTINGENT LIABILITIES
Quantifiable Contingencies
The Company held no quantifiable contingencies as at 30 June 2020 (2019: Nil).
Unquantifiable Contingencies
The Company held no unquantifiable contingencies as at 30 June 2020 (2019: Nil).
Significant Remote Contingencies
The Company held no significant remote contingencies.
ACCOUNTING POLICY Contingent Liabilities Contingent liabilities are not recognised in the statement of financial position. They may arise from uncertainty as to the existence of a liability or represent liability in respect of which the amount cannot be reliably measured. Contingent liabilities are disclosed when settlement is greater than remote. The Trust has no contingent liabilities in either the current of preceding reporting period. |
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https://www.transparency.gov.au/annual-reports/raaf-welfare-recreational-company/reporting-year/2019-20-35