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Is Prepaid insurance is an asset account?
Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.
Is a desk a fixed asset or a current asset?
A fixed asset.
Is prepaid expense is a fixed asset?
No, a prepaid expense is not considered a fixed asset. Prepaid expenses are classified as current assets on the balance sheet because they represent payments made for goods or services that will be received in the future, typically within a year. Fixed assets, on the other hand, are long-term assets used in the operation of a business, such as property, plant, and equipment.
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Is Prepaid insurance is an asset account?
Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.
Is prepaid rent is what type of asset?
Prepaid Rent is a Current-Asset account. Since it deals with "prepaid" it will expire on a regular basis and is not a "fixed" asset. Each month (or whatever terms the rent may be paid) the amount is removed from Prepaid-Rent and placed in Rent Expense.
Is a desk a fixed asset or a current asset?
A fixed asset.
Is prepaid expense is a fixed asset?
No, a prepaid expense is not considered a fixed asset. Prepaid expenses are classified as current assets on the balance sheet because they represent payments made for goods or services that will be received in the future, typically within a year. Fixed assets, on the other hand, are long-term assets used in the operation of a business, such as property, plant, and equipment.
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Is car a fixed asset or current asset?
fixed assest
Is fixed asset a current asset?
fixed deposit is an assets
Is a car a current asset?
no, it is a fixed asset..
Fixed deposit is fixed asset or current assest?
A fixed deposit in the name of a firm is not a fixed asset.
Can a fixed asset become a current asset?
yes
Why do amount of vehicles appear in non-current assets and current assets?
Vehicle is a fixed asset so it should be shown in fixed asset list and not in current asset list.
