Current Asset
Security deposits from customers side is a liability for business.
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
advance paid is current asset and advance received is current liability.
Current Liability
Certificate of deposit if purchased for one year then current asset otherwise long term asset.
Security deposits from customers side is a liability for business.
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
advance paid is current asset and advance received is current liability.
Current Liability
Certificate of deposit if purchased for one year then current asset otherwise long term asset.
Sundry creditor is current liability.
expense owing is a current asset
Accounts receivable is a current asset, never a current liability.
No it is a current liability
fixed deposit is an assets
A fixed deposit in the name of a firm is not a fixed asset.
None!- Its liability.