Profit is a Liability or asset?

Answer Posted / amit

Its a liability for a business and assets for a promoter
becuase it increases his capital.

Is This Answer Correct ?    6 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is Share Certificate?

626


What do you mean by 'cheque endorsing'?

588


Explain Openpages Regulatory Compliance Management?

614


Who are current Miss India, Miss World, Miss Universe etc.?

637


what are levels of traders?

633






Why banks are nationalised?

601


What is the current repo rate?

650


Where will Olympics 2020 take place?

637


Tell something about debt market?

627


What is the post- dated cheque?

646


What are FDI (Foreign direct investment) and FII (Foreign institutional investors) and what is the difference in these?

579


What are extends?

590


Have you faced any failure in life? If yes, how did you overcome it?

617


What is SIDBI & what are its function?

615


What is the role of a clerk / PO / Officer in bank?

628