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Profit is a Liability or asset?

Answers were Sorted based on User's Feedback



Profit is a Liability or asset?..

Answer / samsher khan

profit is a liability of business and it is heart beat of
business

Is This Answer Correct ?    0 Yes 0 No

Profit is a Liability or asset?..

Answer / ib

We are making the statement of companies not of owners.
Business have to pay profit against shareholders investment
thats why profit is treated as a liability. I think.

Is This Answer Correct ?    0 Yes 0 No

Profit is a Liability or asset?..

Answer / ujjal

Profit is asset..but we wil show it in liability side as it
is belongs to share holders so company has to give it to
shareholders...so we r showing under liability side.

profit with respect to company it is a liability as it has
to pay it to shareholders.

Profit with respect to shareholders it is a asset.

Is This Answer Correct ?    0 Yes 0 No

Profit is a Liability or asset?..

Answer / raja

Profit is liability to company because that is share holders
fund

Is This Answer Correct ?    0 Yes 0 No

Profit is a Liability or asset?..

Answer / biju gopal

Profit is an asset to the Owners but the liability to the company because of the business entity concept ie Business is treated as separate from its owners.So all the amount keep in the business such as capital, reserves, profit etc treated as liability as it is bound to pay to the owners ie shareholders.

Is This Answer Correct ?    0 Yes 0 No

Profit is a Liability or asset?..

Answer / saurabh pandey

Profit is a Capital

Is This Answer Correct ?    2 Yes 3 No

Profit is a Liability or asset?..

Answer / talha.zafar

profit is neither an asset nor liability its an increase in
owners equity due to the profitable operation of business

Is This Answer Correct ?    2 Yes 7 No

Profit is a Liability or asset?..

Answer / abhilasha

Profit is an Asset that u get ater the deduction of cost.

Is This Answer Correct ?    11 Yes 33 No

Profit is a Liability or asset?..

Answer / reshmi

Profit is neither an asset nor a liability....

Is This Answer Correct ?    4 Yes 27 No

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