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If it's given to you, yes. If you give it, then no.
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∙ 16y ago
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Is a savings bank CD a tangible asset?
Yes, CDs are considered a tangible, personal asset of the individual that owns it.
Is temporary investments considered an asset?
Yes... technically it would be a Current Asset.
Would business equipment be considered an asset?
yes.
What two accounts are affected when a business pays cash to the owner for personal use?
Owners Drawing account, which is owners equity and is debited. Cash, which is an asset and thats credited.
Is drawing a asset or liability?
Drawings are classified as an liability to the business
Is drawing an asset or a liability?
Drawings are classified as an liability to the business
What is the procedure for paying back personal loans to the dead?
The loans are considered an asset of the estate; you'd probably have to make arrangements with the executor.
Is service rendered considered an asset or owner's equity?
an asset
In Illinois law is the engagement ring if acquired after the marriage a marital asset?
The engagement ring is not considered a marital asset, it would be considered a personal gift under the contract of marriage. If the marriage dissolves immediately or soon after, the husband may be able to receive it in a divorce settlement.
what is a example of an asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
What is an example of a current asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Would a credit card be considered an asset?
No. A credit card is not an asset, it is a liability because it is essentially money that you have borrowed from a bank, in other words, it's debt.
