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Why profit is a liability and loss is an assets
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Answer Posted / k.kutty
A counter question is there. Why Share capital is a
liability? Profit is supposed to go the proprietor who
invest the money. So the place of a profit is there where
share capital is. Loss is not actually an asset like land,
furniture, stock or other intangible assets. Due to the
mechanisam of the Balance sheet and a loss always has a
debit balance it appears in the part of Asset side.
| Is This Answer Correct ? | 46 Yes | 10 No |
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