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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

118

Answers (1)

Decrease in liability and increase in equity

CA Suraj Lakhotia

Admin

22-Feb-24 14:13

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