Answer Posted / mithun .d. shigwan
The liabilities is curent liabilities means should be paid whit in one years means durinn the fincial year
LIABILITIES=CURENT LIABI+ASSEAT
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MEANING OF RED HERRITING
A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
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