Why profit is a liability and loss is an assets
- 20 Answers
- 103201 Views
- Banesco Seguros, FactSet Systems, IIM, South Indian Bank, I also Faced
- E-Mail Answers
Answer Posted / sheny.k.v.
as per business entity concept the business has a separate
entity apart from its partner.from business's point of
view,profit is a liability, bcoz it is liable to its
patner's tiil the profit is divide & distribute to all of
them.the items which decrease the liability are the assets
as far as i am concerned,the loss itself reduce or dispel
the profit from the liability side.in that sense also loss
is a asset.
| Is This Answer Correct ? | 12 Yes | 3 No |
Post New Answer View All Answers
how can make configration related with electronic bank statment and how can i upload bank statment to system
what are the questions commomly asked in reuter's interview.?
Short Answer on _____________Intangible Assets
what is payment method?How many payment method we can assign to company code.
What are Mortgage Payment Problems?
drawings by making a DD from bank ( suppose payable towards UIT ) and on cancellation on such DD what journal entry needs to be passed ?
What is T+2 rolli g settlement cycle?
What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?
about tally erp9
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
all of interview question about coop bank of oromia
Can you explain about the distinction of Book-Keeping and Accounting
OUR BOOKS & ITR MISMATCH FOR RS.15000/- ON ACCOUNTS OF TDS ON RECIEPTS FY-09-10 . KINDY GIVE CORRECTION ENTRY TO MATCH THE BOOKS WITHI ITR. DEVENDRASINGH086@GMAIL.COM
i m a student of icwai i have just passed out my foundation and i wanna no if i should go for both intermediate group together or not....
what tax will be on puchasing of sweets and is necessery to use form 38.
