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A levy is typically recorded as a liability. It represents an obligation to pay a certain amount to a government authority, often due to taxes or fines. The liability reflects the future outflow of resources that the entity must fulfill, distinguishing it from assets, which represent resources owned.
What else can I help you with?
Is Notes receivable asset or liability?
It is recorded as an asset.
Is the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
Is Notes receivable asset or liability?
It is recorded as an asset.
Is the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
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 a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
Is rent income a asset liability or owners equity?
asset liability
Is equipment an asset or liability?
Asset
Is land an asset or liability?
Asset
Is debtor an asset or liability?
It is an asset
Is a premises an asset or liability?
asset
Is Cash an asset or liability?
Asset.
Is debtor asset or liability?
asset
