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Plant and machinery are considered assets because they are tangible resources owned by a business that are used in the production of goods or services. These assets typically have a useful life extending beyond one year and contribute to the company's operations and revenue generation. They are recorded on the balance sheet and can depreciate over time.
What else can I help you with?
Is Depreciation on plant and machinery asset or liability?
surely it is neither, it is merely just a reduction in marketable value and no money is paid or received with depreciation. it does not affect cash but is classed as an expense.
What is plant assets?
Machinery is called the plant asset which is utilized to make production of units of product to earn revenue.
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 Depreciation on plant and machinery asset or liability?
surely it is neither, it is merely just a reduction in marketable value and no money is paid or received with depreciation. it does not affect cash but is classed as an expense.
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
What is a plant asset on the balance sheet?
Plant asset is the machinery asset which a business use to make units of products for selling purpose to generate revenue for business.
What is plant assets?
Machinery is called the plant asset which is utilized to make production of units of product to earn revenue.
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.
