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General expenses, just like any other expenses, are neither an asset, nor a liability.
General expenses can be the result of a decline in the value of an asset (payment of cash, depreciation of value of an asset), or an increase in a liability (electricity bills payable, etc).
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Are prepaid expenses an asset liability or equity?
NO! Prepaid expenses are assets!!
Is expenses owing a current liability or a current asset?
expense owing is a current asset
Is expense a asset or liability?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Are prepaid expenses a liability?
No. They are listed as a debit on the asset side of the Balance Sheet.
Is interest expenses an asset or a liability?
In accounting, interest and other expenses are neither; they are a contra-equity account. This means that as expenses increase, the owners have less equity. Expenses should normally be treated as a debit account, so as you record interest expenses, you should be crediting either an asset or a liability at the same time.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Is shree premium is asset or liability?
Share premium is a liability to the company. It is used to write off preliminary expenses and is used to issue bonus shares etc.
Are advertising expenses is considered an asset or liability?
it is an assetAlternate answerAdvertising expenses enhance the brand name of a company. The market value of a company might very well increase as a result of advertising. Accounting principles (US GAAP and IFRS) nevertheless do not recognize marketing expenditures as an asset, because the future benefits may not be measured realibly. In short: marketing expenses are not an asset, but are expensed instead.Note: advertising expenses may result in a liability (accounts payable) if the company still needs to pay the advertising company. The liability disappears when the bills have been paid.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
How does a fund accounting structure control government's expenses?
each type of financial activity is segregated into a separate set of self-balancing asset, liability, and net asset accounts
Is asset or liability?
asset
