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why we are considering the net profit as liable in balance
sheet
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Answer Posted / shiva
According to Accounting Standards, we should treat,
Business is separate from Enterpenuer. the Net profit,
which is gained by from the business in the Patriculat
peroid after provisions for some reserve. this net profit
should share to the Partners or share holders. so, this is
laibility and should shown in the laibility side to add to
the capital.
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