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From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
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.
Account receivables are always assets. It's money that is owed to you by another. The length of time in which that money is expected to be collected determines whether it's a current asset or long term asset.
if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.
yes- (it is an asset)
Simple answer yes. you have access to your funds daily and no market risk
Any money you owe to someone else is a liability to you and an asset for them. You have to pay (liability) and they get to receive (asset).
Increase in asset; increase in liability. Receiving money is revenue. receiving money you haven't earned yet means you owe that work. What you owe is a liability.
The account itself is not an asset, but any money credited to the account is.
Neither.The liability for a bank is the actual checking or savings account (demand account), as this is money that is owed to the depositor. A bank check is simply a way to demand payment from the bank's liability account (or the depositor's asset account). The check by itself is not an additional liability to the bank above and beyond the actual account balance.
A money market account is similar to a savings account. However, it typically requires a higher balance and offers a higher interest rate. Some accounts also allow check writing from the account, so it is considered a liquid asset.
Investors are those persons who invests money in business so they are the owners of business as well and that amount is the liability of business to pay back to it's owners that's why it is the liability and not the asset.