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Yes, but only if the entity has the legal right to settle on a net basis and they are levied by the same taxing authority on the same entity or different entities that intend to realise the asset and settle the liability at the same time.
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∙ 11y ago
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Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
Is rent income a asset liability or owners equity?
asset liability
Is Bad debts an asset or liability?
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
Unexpired insurance at the end of the fiscal period represents is it an accured asset liability expense or deferred expense?
deferred nexpense
Are all temporary differences that exist at balance date recognised as deferred tax assets or deferred tax liabilities?
yes - either a deferred tax asset (DTA) or a deferred tax liability (DTL).
Bond discount should be presented in the financial statements of the issuer as a a.contra liability b.adjunct liability c.deferred charge d.contra asset?
deferred charge
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Can you deduct your unsecured debt from bank accounts when applying for government benefits?
No, There are assets and liabilities. An unsecured loan is a liability that does not offset an asset.
Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
Is rent income a asset liability or owners equity?
asset liability
Is Bad debts an asset or liability?
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
Is equipment an asset or liability?
Asset
