Forums

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

IMG_20240222_135052.jpg

Snehashis Mohanty

Snehashis Mohanty

CA Inter

5

22-Feb-24 13:55

80

Answers (1)

Decrease in liability and increase in equity


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

22-Feb-24 14:13

Individual Modules Offer
AFM Marathon