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Liabilities are on left side and Assets on right side in Balance Sheet
Why always Liabilities are on left side and Assets on right side in Balance Sheet?


  
Total Answers and Comments: 1 Last Update: November 14, 2007     Asked by: dinesh_rakwal 
  
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August 18, 2008 22:52:41   #1  
vasudeo007 Member Since: July 2008   Contribution: 60    

RE: Liabilities are on left side and Assets on right side in Balance Sheet
It is nothing but convention.

In United States they mention Assets on left and Liabilities on the right side.

Vasudeo

 
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