Both assets and expenses are fundamental components of a company's financial statements. They represent the use of resources, with assets reflecting what a company owns that can provide future economic benefits, while expenses indicate the costs incurred in generating revenue. Additionally, both can impact a company's cash flow and overall financial health, influencing decisions made by management and investors. Ultimately, they play a crucial role in assessing a company's profitability and financial stability.
Assets become expenses when their economic benefits expire.
NO! Prepaid expenses are assets!!
because we get the benifit of such expenses in future
Net assets are calculated as: Fixed Assets+Current Assets-Current Liabilities-Preliminary expenses if any
Net Income is revenue minus expenses. Assets minus liabilities is Net Worth.
Assets become expenses when their economic benefits expire.
Preliminary expenses are expenses prior to start of operating activity and shown in assets side as an other assets.
NO! Prepaid expenses are assets!!
because we get the benifit of such expenses in future
Net assets are calculated as: Fixed Assets+Current Assets-Current Liabilities-Preliminary expenses if any
Net Income is revenue minus expenses. Assets minus liabilities is Net Worth.
Assets, expenses, and revenuesAssets, expenses, and retained earningsINCORRECTAssets, liabilities, and dividendsAssets, expenses, and dividendsCORRECT ANSWER
Assets
assets
cash
Assets
There is no similarity between the assets and expense only prepaid/expired expenses is consider our assets.