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why do we take preliminary expenses into asset side?
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Answer Posted / gopi
this exp are incurred before company estabilsh so we are
going right of for some more period from prafit and loss
accout, remaining balance as per accountig rules all
closing entris should be shown in asset and liabilitis
based on that this is not out side liability and you can
treat as prepaid exp because usefull life for some more
period so we are showing this one in asset side
| Is This Answer Correct ? | 7 Yes | 9 No |
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