what is the meaning of preliminary expenses and how you
shown in balance sheet
Answer Posted / balaji ganesh
priliminary expenses are those expenses which are inncured for the development of business before its incorporation.
Its debited on profit and loss ac,and its shown on asset side of the balance sheet,where the value of the expenses is subracted(i.e credit aspect) from the profi of the businees,for the period of five year
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