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.
It is recorded as an asset.
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
yes It is an Asset, not a Liability.
asset liability
It is an asset
It is recorded as an asset.
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
yes It is an Asset, not a Liability.
asset
asset liability
Asset
Asset
It is an asset
asset
Asset.
asset