Income under conceptual Framework

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September 22, 2022 at 6:31 pm #667025
Nikhal
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how decrease in liability & increase is income can you please explain with example
how increase in liability is expense can you please explain with example.
September 24, 2022 at 12:45 pm #667146
Stephen Widberg
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Think back to your double entry bookkeeping.

If I buy goods for resale and pay later

Dr Expense Cr Liability
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