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Call accounting Voice Mail is asset or expense?

Updated: 8/17/2019
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15y ago

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if benifts of any one time expense is enjoyed for a longer period (long term) then it is considered as an asset. Alternately if u can get money by selling that asset after use (usage of less than 1 year) it is considered as an asset. Those expenses whoose usage elapses within a year or which cant be sold are considered as expenses. For example monthly wages are expense since we have to pay wages again to avail the services of labourers.

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