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In a word, no. An asset is something that tends to be a concrete investment, or something that appreciates in value. A car reduces in value as soon as you purchase it, so it is not an asset. The purchase of an expensive car is not a wise investment. Exceptions: A car that is either old and restored, or a customized car may give you more money in the future.
What else can I help you with?
Is a car considered an asset when applying for a mortgage?
Yes, a car is considered an asset when applying for a mortgage because it is a valuable possession that can be used as collateral or to demonstrate financial stability.
Is a car a liquid asset?
A liquid asset is cash or something that can be quickly converted into cash. A car is generally not considered a liquid asset. The reason for this is because it can take some time to sell a car in order to obtain cash.
Is a car considered an asset for financial aid to college?
Yes! A car is definitely considered an asset for financial aid to College. consider an area w/no public transportation. You need to be able to get back and forth, for continual productivity.
Can a person have 2 vehicles on diability?
Not if they are both running, second car is considered and asset and must be sold.
Is a car a current asset?
no, it is a fixed asset..
Is land considered an asset in financial accounting?
Yes, land is considered an asset in financial accounting.
Is service rendered considered an asset or owner's equity?
an asset
Is car a fixed asset or current asset?
fixed assest
what is a example of an asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
What is an example of a current asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Are cars generally considered appreciating assets?
Only highly sought after collectible cars might be - typically, a car is a depreciating asset.
Is a house considered an asset?
Yes, a house is considered an asset because it has value and can be used to generate wealth or income.
