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TRADE - Coggle Diagram
TRADE
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2. Actually Incurred
Edgars Stores: The obligation to pay turnover rental is contingent until the turnover is determined and cannot be deducted until it is determined.
Golden Dumps(Pty) LTD:
Only when the claim is upheld by the court will a liability arise.
If the outcome of a dispute is undetermined, it cannot be said that a liability has been actually incurred.
Nasionale Pers BPK: Bonusses payable on a future date (other year of assessment) provided the employee were still in the employ of the company.
- an uncertain future event,
- and the expense can only be actually incurred on this future date.
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