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Commission is our asset or liabilities

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Commission is our asset or liabilities

    • Posted by Lokesh Gahlot 6 years, 4 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Naman Aggarwal 6 years, 4 months ago

    It is an asset because it is an income. If it is received in advance then it is our liability. If it is not mention that the commission is received in advance then it is our asset.

    3Thank You

    Khushi Oberoi 6 years, 4 months ago

    Neither asset nor liability,it's either income or expenditure,thus it goes in pnl acc

    1Thank You

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