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It comes under liability
smesakkiraja2003
NERI JAMES
it is a liability
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Is a positive balance in your cheque account a asset or liability to you and the bank?
For Bank: Liability For You: Asset
Is a cheque an asset or liability?
It comes under liability
Is a cheque account an asset?
The account itself is not an asset, but any money credited to the account is.
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
Is a Reserve account an asset or liability?
It is assets
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Is drawings an asset equity or liability account?
equity
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
Is account payable asset or liability?
accounts payable is a liablity.
Is checking your account an asset or a liabilities?
Checking your account can be considered an asset as it represents the funds you have available for use. However, it can also be seen as a liability if your account has a negative balance or if you owe money to the bank or other creditors.
