What is the net operating loss for the current year?

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A: Formulas for different financial ratios are as follows.

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A: Relevance is an important characteristic of accounting or financial information.

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Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.