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LOSS IS AN ASSET OR LIABILITY ?
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Answer / satyakiraju
Loss always decrease the capital. Hence it is not an asset
but grouped under Indirect Expenditure
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / barodianbuddy(acca)
LOSS IS NEITHER SHOWN AS ASSET OR LIABILITY. IT IS SHOWN IN P/L AND OVERALL IT REDUCES EQUITY OF COMPANY/OWNER.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / giri
Neither Asset nor Liability..its an income.(income includes
losses)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / vignesh
loss neither asset nor liability profit after all expense in
an capital for a business in will added to capital account
in balance sheet and viceversa..
| Is This Answer Correct ? | 0 Yes | 1 No |
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