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Liability closing balance
Please provide me the written statement where it is mentioned that Liability closing balance is not necessarily be of current year but can be a cumulation of current and previous years
Replies (2)
It has to be shown liabilities side as Opening liabilities ( previous years accumulated) accounts + liabilities during the financial year = closing balance of liabilities.
Thank you Rama Ji for ur reply. But i need a proof where the same has been wriiten as one lawyer has filed petition against my client to give a proof against this.
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