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why we are considering the net profit as liable in balance
sheet
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Answer Posted / manojjain1525
there are sum generally accepted accounting principles and
in those principles there is one self entity concept it says
that the business is treated as self entity ( individual
person)and the proprietor is the one who provide cap to
business and whenever there will be profit that profit will
be treated as the liability of the business hence the net
profit is always shown in the liability side of the balance
sheet.
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