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Furniture is generally considered an asset because it has value and can contribute to the overall worth of a business or individual’s net worth. However, it can also be viewed as a liability if it incurs ongoing costs such as maintenance, depreciation, or if it takes up space without providing significant utility. Ultimately, its classification depends on the context in which it is evaluated.
What else can I help you with?
Is furnature a liability?
No. Furniture is an asset.
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.
What is furniture it is asset liabilities or capital?
Furniture can be considered as a capital asset for businesses or individuals. It is a tangible asset that is used for productive purposes, such as providing seating or storage. However, if furniture is purchased through borrowed funds, it may also create a liability in the form of debt that needs to be repaid.
Is asset or liability?
asset
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
Is Cash an asset or liability?
Asset.
Is a premises an asset or liability?
asset
Is premises a asset or liability?
asset
Is equipment an asset or liability?
Asset
Is equipment liability or asset?
Asset
