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Is Proceed of sale An asset or liability?

Anonymous

∙ 17y ago

Updated: 4/28/2022

no, it can be capital gain or loss

Wiki User

∙ 17y ago

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Continue Learning about Accounting

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Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset

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if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.

Is a trade debtors asset or liability?

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