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There's not really a benchmark for that as each company will be different. However, a company should class an item as an asset if they believe it could be used for a few years rather than monetary value basis.
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∙ 13y ago
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Is utilities asset or expense?
Expense
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
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.
Is rent expense an asset or liability?
Its an asset.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
When do you expense an asset?
preliminary expense is the expense for fitting the asset or similar works, so this expenses capitalized.... and is called fixed asset
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is utilities asset or expense?
Expense
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.
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.
Is rent expense an asset or liability?
Its an asset.
Is salary an expense?
Yes. No , Its not a Expense. Its an Asset.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is freight a current asset or non current asset?
it is a expense
What does an asset expense relationship exist with?
prepaid expense adjusting entries
What is nature of Prepaid expense?
Asset
