why do we take preliminary expenses into asset side?
Answer Posted / sumitra.raghavan
preliminary expense is a fiticious asset....benefit was
derived from it in the past...now it has no economic
value....but profit in the past was not sufficient to write it
off so it is carried forward
Is This Answer Correct ? | 9 Yes | 15 No |
Post New Answer View All Answers
What is peach tree accounting?
what is a difference between public and private accounting?
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
What are the nine accounting cycles?
as muthoot finance is a finance co,so what would be pattern of asking in relation to finance and a/c question?will it be basic or general or it would be market related situation?plz if help me anybody...
What is the disadvantage of double entry system?
what are your current financial and accounting projects? What is your role?
Which forms in use in service Tax, Excise duty and Vat for the return.
iv, A non -performing asset is A, Money at call and short notices b, An asset that ceases to generate income c, cash balance in till d, none of the above
Are you comfortable with cold-calling?
if co. (proprietorship). purchase mobile phone for employees than mobile phones under off. equipment .we have rec. purchase bill gst applicable how shows entry
Do you know public accounting?
what is a register when referring to accounting or bookkeeping?
What is aggregate Liabilities ?
In the case of stock transfer from one branch to another branch any reverse credit is applicable.