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It is neither.
An expense is not entered into the Balance Sheet but reduced from the revenue in the Profit and Loss Account to calculate profit.
Note: However, a deferred expenditure (written off by the business over a number of years) is considered to be a fictitious assets until it is paid off. eg. preliminary expenses of a business.
What else can I help you with?
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is utilities asset or expense?
Expense
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is rent expense an asset or liability?
Its an asset.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Are notes payable an example of an asset?
no, they are an example of a liabilty
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
When do you expense an asset?
preliminary expense is the expense for fitting the asset or similar works, so this expenses capitalized.... and is called fixed asset
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is utilities asset or expense?
Expense
Is expense a asset or liability?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is rent expense an asset or liability?
Its an asset.
Is salary an expense?
Yes. No , Its not a Expense. Its an Asset.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is freight a current asset or non current asset?
it is a expense
Is insurance a asset or liabilty?
Insurance can actually cannot be considered as an asset or a liability.. Infact Insurance is there to protect your asset for future needs and save you from financial crisis.. It reduces all the losses ocuured on any particular event..
