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Profit is a Liability or asset?

Answer Posted / subash

Profit is asset..but we wil show it in liability side as it
is belongs to share holders so company has to give it to
shareholders...so we r showing under liability side.

profit with respect to company it is a liability as it has
to pay it to shareholders.

Profit with respect to shareholders it is a asset.

Is This Answer Correct ?    96 Yes 5 No



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