Examples of Liabilities

Examples of those liabilities are:

a) Claims by employees for injury at work such should be covered through workman's compensation;

b) Claims through ex-employees for unfair dismissal;

c) Unfunded retirement fund liabilities;

d )Bonuses within profit sharing arrangement;

e) Returnable containers or packages;

f) Penalties for VAT and another tax;

g) Guarantees and Warranties;

h) Discounted bills;

i) Pending litigation;

j) Losses on forward contracts penalties for breach of contract;