IndigoLearn

Forums

Back

Income

Accountancy

Here it is showing that the economic benifits in the form of decrease in liability so my question is how can it be possible that if we pay off our liability then the liability will automatically decrease but that are the obligation which we have to pay How can we consider it as Income Can anyone explain it to me

Snehashis Mohanty

CA Inter

★ 5

22-Feb-24 13:55

172

Answers (1)

Decrease in liability and increase in equity

CA Suraj Lakhotia

Admin

22-Feb-24 14:13

Your Reply

IndigoLearn

We have been revolutionising learning paths for students of CA, CFA, CMA, US CMA, and ACCA since 2017 . “Learn Like Never Before” & ‘ Students-first ’ are the cornerstones of our approach. We take immense pride in having enabled 13,000 + students succeed in some of the toughest examinations in the world & are grateful to them for the love and respect they have showered us with, over the years.