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Profit is a asset or liability to the company....? If is it a asset or
liability....how it is....?
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Answer Posted / raghu.v.
if its Profit,
Profit loss a/c Dr
Capital Cr
Its means profit is liability to the co.
if Loss,
Capital Dr
Profit loss a/c Cr
Its means Loss is assets to the co.
| Is This Answer Correct ? | 7 Yes | 0 No |
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