In Balance Sheet Why we entered Liabilites & Incomes under
Liabilites side , Assets & Expenditures under Assets
side.In general think incomes are asssets,expenditures are
liabilites.
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Answer Posted / n k gupta
All Liabilites to the business has to be on liabilities
side and indcome to the business is owners Asset i.e
Shareholders. thats the reason all income is also liability
to business.
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