0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How can you tell the financial standing from assets and liabilities?
Logically, your liabilities taken away from your assets would show you your financial standing: assets - liabilities = how much money you have If your liabilities are greater than your assets, your answer will be negative and you're in debt. If your assets are greater than your liabilities, your answer will be positive and you have enough assets to get rid of your liabilities.
What are its main features in financial assets?
Financial assets are things that can bring in money if needed and can be used as collateral. They may include money in savings accounts, cars, house, or boats.
What do you mean by assets fixed assets and current assets?
Assets:Assets are those items which are utilized by company to earn profit in business cycle.Fixed Assets:Fixed assets are those items the benefits of which have been taken by company for more than one fiscal year like land, building, machinery etc.Current Assets:Current assets are those assets the benefit of which is received or receivable by company in only one fiscal year to earn profit like, cash in hand, marketable securities, inventory, debtors etc.
Is prepay insurance a current asset?
Yes any expense paid in advance is current assets as the benefit of that amount is required to be taken in future.
If the adjustment for depreciation for the year is inadvertently omitted will the assets on the balance sheet at the end of the period be understated?
No they will be overstated as depreciation will not have been taken into account.
Can creditors go after a paid-off car in probate if the house is being foreclosed on?
Debtors can go after the assets of the estate. These assets will have to be liquidated to settle the debts.
What assets can be taken with a Florida deficiency judgments for foreclosed property?
Whatever they can sell to reclaim their losses. You may need to proceed with bankruptcy to protect other assets. Consult an attorney for specifics.
How do you give a foreclosed house back to the bank?
When the bank foreclosed on the house, they took it back. Now it's time to move out.
Can you rent a house you were foreclosed on?
No, I can't
Do you get your car taken away after getting foreclosed?
Er.Yes
Can you buy a house for cash if your house is being foreclosed on?
Yes you can
If your car is paid off can it be taken if your house is foreclosed?
Yes. And any other posession deemed not a basic need as defined by your state, and free of liens.
IF A HOUSE has been foreclosed what are the rules and regulations about going onto the property?
If a house has been foreclosed the lender has taken possession of the property and the borrower no longer owns it. Therefore the former owner has no right after the foreclosure to enter the premises. Arrangements to remove personal property should be made prior to the foreclosure sale.
How long does it take a foreclosed house to get off your credit record?
A foreclosed home can take seven years before it is taken off your credit report. You can build your credit back up in about three years if you continue to pay all your bills on time.
During foreclosure can private possessions be taken as collateral?
No only the house is the item that is being foreclosed on unless it is a federal tax lien or certain other foreclosures.
How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
If you pay the taxes on a house that has been foreclosed does that mean you own it?
No the bank owns the house.
