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Is fixtures and fittings a current asset or a non current asset?
non current
How would you determine whether an asset is current asset or noncurrent asset?
I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
Is bonds payable a noncurrent liability?
no, it is current liability
Can a single liability cannot be divided between current and noncurrent liabilities.?
No, a single liability cannot be divided between current and noncurrent liabilities. Each liability is classified based on its due date: current liabilities are obligations due within one year, while noncurrent liabilities are those due beyond one year. Therefore, a liability must be fully categorized as either current or noncurrent, depending on its specific terms and repayment schedule.
Is fixtures and fittings an asset?
sure it is
Is fixtures and fittings a current asset or a non current asset?
non current
How would you determine whether an asset is current asset or noncurrent asset?
I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
How do you convert noncurrent assets into assets?
since noncurrent assets are fixed assets and current asset are business properties tend to be used within a years period example machinery a business can put their properties on sale example they can rent them out as hire purchasing from them the business gets money
Is bonds payable a noncurrent liability?
no, it is current liability
Can a single liability cannot be divided between current and noncurrent liabilities.?
No, a single liability cannot be divided between current and noncurrent liabilities. Each liability is classified based on its due date: current liabilities are obligations due within one year, while noncurrent liabilities are those due beyond one year. Therefore, a liability must be fully categorized as either current or noncurrent, depending on its specific terms and repayment schedule.
Is fixtures and fittings an asset?
sure it is
Are fittings and fixtures a cost or an expense?
It is an asset.
Is furniture and fixtures a debit or credit?
Furniture is a credit and so is fixtures But furnitures are asset and fixtures are expenses
Is fixtures an asset or liability?
Assuming they have been paid for . . . .it is an asset on the balance sheet. When calculating the value to give fixtures for the balance sheet, be sure to include an assessment of depreciation.
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Is prepaid insurance a current asset or fixed asset?
Current Asset
