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Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Is rent revenue an asset account?
No, rent revenue is not an asset account; it is classified as a revenue account. Revenue accounts reflect earnings generated from business activities, such as rent collected from tenants. In contrast, asset accounts represent resources owned by a company that have economic value. While rent revenue contributes to a company's overall financial position, it does not meet the criteria of an asset.
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
What account is credited When an enterprise is the recipient of a donated asset?
The revenue account.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Is account revenue an asset?
No, it is an owner's equity account.
Is rent revenue an asset account?
No, rent revenue is not an asset account; it is classified as a revenue account. Revenue accounts reflect earnings generated from business activities, such as rent collected from tenants. In contrast, asset accounts represent resources owned by a company that have economic value. While rent revenue contributes to a company's overall financial position, it does not meet the criteria of an asset.
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
What account is credited When an enterprise is the recipient of a donated asset?
The revenue account.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Is service revenue a revenue account?
Yes, it is, but accounts receivable is not.
Is sales an asset quity or liabitity?
Sales is not an asset, liability or equity account rather it is a revenue account and part of income statement rather balance sheet.
Is an account receivable a revenue?
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
What type of account is Prepaid Rent?
balance sheet as a current liability until it's earned, when you transfer the amount earned to revenue.
