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Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
true
There are three characteristics that define an asset, as follows:The entity obtained the asset in a past event/transaction.The entity has present control over the asset.Future economic benefit is expected to flow to the entity as a result of their possession of the asset.
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
If your divident is the result of your own investment, it is an asset. Divident payable is a liability.
a cheque issued for payment of salaries.
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.
Revenue is the gross inflow of economic benefits during the period arising in the course of ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. Income is the increase of economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants.
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
A variable is an entity that may change its value. In a program, the result of the processing statements are stored in the computer's memory.
Asset: It is a resource controlled by the entity with the future economic benefit flowing to the entity as a result of past transaction.
Debt
Home equity is the difference between the current value of a home and the amount still owed on the mortgage. As the principal of the mortgage amount decreases as a result of monthly mortgage payments, the home equity increases.
true
an increase in overall output in the economy
There are three characteristics that define an asset, as follows:The entity obtained the asset in a past event/transaction.The entity has present control over the asset.Future economic benefit is expected to flow to the entity as a result of their possession of the asset.
variant