libilities accounts come under what type of accounts(under
real, nominal or personal) if its nominal, generally
nominal will not come in balance sheet, why we shown in
balance shhet?
- 1 Answers
- 3410 Views
- I also Faced
- E-Mail Answers
Answer Posted / prasant m
Liabilities is a Nominal accounts,your second q is why it is
comes under Balance sheet,where as my view first we should
know why we need to prepare Balance sheet?
to find exact position of business at the year ending,how
much assets value excess over liabilities or how much
liabilities excess over assets,by that we can find what is
the business value at year ending.
| Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
WHAT IS DIFFERED INCOME TAX AND WHERE IT SHOWS IN BALANCE SHEET?
what is the cost and financial accounting? what is double entry system ?
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?
Data flow of Accounts payable to General ledger?
what is undisclosed profit? explain
EXPAND_________SEB
Hi friends can you send me the Accounting Interview questions with a interview experienced questions please
Which document should be attached with purchse & sales invoice?
I want to know with example of vat & Salestax
What is DRA in bank reconciliation.
why you would like to work for the our(AIRLINE) Group ???
What is the Formula For Return on Working Capital
What is the difference between reserve and provision.
what is cost centre , job costing & Budget control. what is the effect of these.Explain its briefly.
