Accountancy, asked by hariompandey14, 7 months ago

Rahul a business man has employed Sonu and has estimate his value at RS 10000 He has accounted it as an asset in the books of account is he correct in doing so?

Answers

Answered by surbhi1872

Explanation:

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.

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Rahul a business man has employed Sonu and has estimate his value at RS 10000 He has accounted it as an asset in the books of account is he correct in doing so?​

Answers

Rahul a business man has employed Sonu and has estimate his value at RS 10000 He has accounted it as an asset in the books of account is he correct in doing so?