Why profit is a liability and loss is an assets
- 20 Answers
- 103410 Views
- Banesco Seguros, FactSet Systems, IIM, South Indian Bank, I also Faced
- E-Mail Answers
Answer Posted / k.kutty
A counter question is there. Why Share capital is a
liability? Profit is supposed to go the proprietor who
invest the money. So the place of a profit is there where
share capital is. Loss is not actually an asset like land,
furniture, stock or other intangible assets. Due to the
mechanisam of the Balance sheet and a loss always has a
debit balance it appears in the part of Asset side.
| Is This Answer Correct ? | 46 Yes | 10 No |
Post New Answer View All Answers
1. what is responsibility of inword & forward agent ? 2. how to control cash expenses give five step ? 3. what is Vat 3. how many type of depreciation
Clasify Loss
Please do tell me about the questions which are asked at BACS FINAL ROUND.
why specifically inited states ?
Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
What is Risk Assessment?
define accounting,scope of account , types of account ?
Short Answer on ___________Appreciation
why do you want to work here?
How can i get GR form (GR No.) for Exports ? please give me a link of website with steps ?
plz tell me the finance questions asked in hsbc latest question asked in hsbc?
Expand-------MUR
What are Corporate Action?
Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .
