what is Assets & Liabilities ?

Answers were Sorted based on User's Feedback



what is Assets & Liabilities ?..

Answer / pravin kamble

Liabilities :- All the things for which we are suppose to
pay to sombody.

Asset :- All the the things for which we made investment &
we are receiving direct or indirect income.

Is This Answer Correct ?    12 Yes 0 No

what is Assets & Liabilities ?..

Answer / urvashi sharma

assets are that things comapany owns

liability are that part of balance sheet which tells how
much a company has to payments

Is This Answer Correct ?    3 Yes 0 No

what is Assets & Liabilities ?..

Answer / piramu

Liability means what are the source we are collect the fund
(fe)shares, Debenture, Loan from bank
we have to pay the moneny from the business income
the contributers will get the income by way of interest,
profit (who invest share's they are called owener)


Assets means how we are using the fund
where wear we invest the fund in order to effective utilse
the fund - through this only we can run the business and
get the profit

Is This Answer Correct ?    1 Yes 2 No

what is Assets & Liabilities ?..

Answer / prof

assets are assets and others are liabilities

Is This Answer Correct ?    1 Yes 13 No

Post New Answer

More Accounting General Interview Questions

please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.

0 Answers  


What is LC?

5 Answers  


. Expenses a/c. Dr. To vendor a/c. Cr. What is an impact of this transaction on business

2 Answers   Genpact,


What does the financial statement of the company include?

0 Answers  


the amount paid aganist the outstanding salary and the amount paid aganist the loan (liabilities)-how and where to make an entry?

2 Answers  






can any one tell what is the selection proces in cognizant for MBA finance

0 Answers  


Difference between Accounting Concepts and Conventions

1 Answers   Genpact,


what is difference between job costing and process costing?

2 Answers  


How to pass advance entry in tally, and how it should adjust against future invoice.?

9 Answers   Alpha Technologies,


What type of Question asking in Interview for Infor LN profile for an experienced person.

0 Answers  


What does mean is Profit & Loss Account Shows Debit Balance in Trail Balance ?

6 Answers  


why we multiply no. of purchasing year with average profit

0 Answers  


Categories