Why profit is a liability and loss is an assets
- 20 Answers
- 104762 Views
- Banesco Seguros, FactSet Systems, IIM, South Indian Bank, I also Faced
- E-Mail Answers
Answer Posted / jagdish sherla
The profit is liability because when the company close the
business the profit will be distributed in the ratio of
shares profit. And Loss is an asset because when the
company close the business all the assets are sold and
clear the dues of sundry creditors.
| Is This Answer Correct ? | 34 Yes | 30 No |
Post New Answer View All Answers
Why do you want to work with us
Took goods from the shop for use at home? state whether the following transcation is business transcation or non business transaction? with reason?.
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
what is Rectification of Errors ?
Please send the clerical exam questions and answers to my mail Id pinky18.02.1985@gmail.com
how MIS statements used in accounts receivables n payables? n what is the advantage of this reports?
what salary you expect???
what is the global prameters why are you selecting for the negative posting period allowed, defalult value date,proposed fisal year
What are the accounting conventions and Practices?
when calculating for np% do i include interest or do i take it off
in which group under we will open donation and hamali weekly payment account or ledger
institutional investors?
wht can u do for the growth of bhel?
Please send me full details of MIS report how to prepare which item to be consider in MIS report? 2) full details of Esic, PF and Fbt and maharashtra labour welfare fund
what is CDD’s configuration
