Profit is a asset or liability to the company....? If is it a asset or liabili

Profit is a asset or liability to the company....? If is it a asset or
liability....how it is....?

Question Posted / babhu.k

2 Answers
7126 Views
ACC, Xerox, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Profit is a asset or liability to the company....? If is it a asset or liability....how it is....?..

if its Profit,

Profit loss a/c Dr
Capital Cr
Its means profit is liability to the co.

if Loss,
Capital Dr
Profit loss a/c Cr
Its means Loss is assets to the co.

Is This Answer Correct ?

7 Yes

0 No

Profit is a asset or liability to the company....? If is it a asset or liability....how it is....?..

Answer / babhu.k

Profit is a liability.......

Is This Answer Correct ?

7 Yes

4 No

Post New Answer

More Accounting AllOther Interview Questions

How you implemented a chargeback system?

0 Answers Wipro,

what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?

0 Answers Ignou,

Expand R R

1 Answers

difference between accounting and financial accounting if it is same or not if not what is the difference ?

2 Answers

Expand---------PDCB

1 Answers

WHAT IS MAT? PL. DON'T GIVE BRIEF NOTE.

3 Answers

wht is overdrafting and where we have to shown.

3 Answers

What do you mean by an Accounting Cycle....?????

7 Answers HCL,

What is the difference between Manufacturing Account and Trading Account?

3 Answers IBM, TATA,

What is Capital Budgeting?

3 Answers Deloitte,

What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?

0 Answers

why balance sheet should always tally?

9 Answers

For more Accounting AllOther Interview Questions Click Here