Why profit is a liability and loss is an assets
- 20 Answers
- 103351 Views
- Banesco Seguros, FactSet Systems, IIM, South Indian Bank, I also Faced
- E-Mail Answers
Answer Posted / sheny.k.v.
as per business entity concept the business has a separate
entity apart from its partner.from business's point of
view,profit is a liability, bcoz it is liable to its
patner's tiil the profit is divide & distribute to all of
them.the items which decrease the liability are the assets
as far as i am concerned,the loss itself reduce or dispel
the profit from the liability side.in that sense also loss
is a asset.
| Is This Answer Correct ? | 12 Yes | 3 No |
Post New Answer View All Answers
I want to become CFA so kindly provide me all information regarding this like fees structure,colleges in mumbai,duration etc.
I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T
Expand-------ANCS
Total numbers of companies listed on stock Exchange?
Expand DEHM
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
You are working in a Company but due to certain reasons you were not able to complete the work given to you on time, so to write a Letter of Apology to your Senior regarding it.
We are working as Merchant Exporter. My Question is can we Sale the products against 'H' Form to the Exporter after purchasing the material against 'C' Form? Or only Manufacturer can make sale against 'H' Form.
how we could adj. the entries of prop. & firm in merging time
Explain why the assets of a partnership are usually revalued before the admission of a new partner or the retirement of an existing partner
Expand-------CSNA
what is dieerence between capital cpapital structure
income from depreciated asset is profit or loss?
CAN ANY OF U TELL ME WHAT QUESTION ACTUALLY ASK IN OPERATION ROUND IN BA CONUTNNIUM SOLUTION
Short Answer on ___________Cash Profit
