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Rahul,a businessman has employed sonu and …

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Rahul,a businessman has employed sonu and has estimated his value at Rs.10,000.He has accounted it as an asset in the books of account.Is he correct in doing so?

Posted by Sachin Bhardwaj 5 years, 3 months ago

CBSE > Class 11 > Accountancy

2 answers

Arinan Aggarwal 5 years, 3 months ago

No,We cannot measure the potential of a person in monetary terms and hence it cannot be recorded in books of account as in books of account those transactions are recorded which can be measured in monetary terms.

Jyoti Mahour 5 years, 3 months ago

Yes

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