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No, an unpaid bill is not considered a fixed asset. Instead, it is classified as a liability, specifically an Accounts Payable, which represents an obligation to pay for goods or services received. Fixed assets are long-term tangible items used in operations, such as buildings or machinery, and involve ownership rather than outstanding debts.
What else can I help you with?
Is a desk a fixed asset or a current asset?
A fixed asset.
Do you need to accrue for unpaid fixed asset?
If you purchased a fixed asset and you didn't pay for it all when you bought it, then you took on a debt liability. This does not accrue. It's there in full until it is paid off. Interest expense is recorded in its own account too. Interest accrues.
Is fixed asset a current asset?
fixed deposit is an assets
How do you determine the useful life of a fixed asset?
useful life of fixed asset
What is the journal entry for donating fixed asset?
debit donationcredit fixed asset
What Types of fixed asset?
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
Is a desk a fixed asset or a current asset?
A fixed asset.
Do you need to accrue for unpaid fixed asset?
If you purchased a fixed asset and you didn't pay for it all when you bought it, then you took on a debt liability. This does not accrue. It's there in full until it is paid off. Interest expense is recorded in its own account too. Interest accrues.
Is good is a fictitious asset or fixed asset?
fixed
Is an unpaid house considered an asset?
Yes, an unpaid house is considered an asset because it holds value and can be sold or used as collateral for a loan.
Is car a fixed asset or current asset?
fixed assest
Is fixed asset a current asset?
fixed deposit is an assets
Fixed deposit is fixed asset or current assest?
A fixed deposit in the name of a firm is not a fixed asset.
Share discount is a fixed assets-?
A share discount is not a type of fixed asset, it is a type of net asset.
Is an unpaid loan an asset?
No, it is a debt and therfore cannot be considered an asset. the only way to term it an asset is to be the lender.
How do you determine the useful life of a fixed asset?
useful life of fixed asset
What is the journal entry for donating fixed asset?
debit donationcredit fixed asset
