Emphasize on Going Concern by the auditor

SNIPER · 07-13-2004, 11:04 PM

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How is it possible in double entry that a company`s liabilities exceeds its assets?

There is a will there is a way.
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Liabilities CAN exceed assets and it has nothing to do with the theory of double entry.

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Hello!

I'm a beginner in this field, and cannot understand your point. How can the current liabilities exceed your total assets, or by 'total assets' you're refering to the total net assets?, i'm confused on that, kindly explain by giving an appropriate example.

Regards
Mubeen

Edited by - sniper on Jul 13 2004 60941 PM