Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177736 Points)
Replied 01 August 2019
A liability is any obligation that you have to a business, and so an increase in your liability increases your obligation.
Therefore you record it on the credit side as on the credit side you record what you pay.
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 27 September 2023
Balance sheet has personal and real accounts. Thats why
CAclubindia
