0
Yes, a motor vehicle can be considered a current asset if it is intended for sale or used in the operations of a business within a year. However, if the vehicle is primarily used for long-term purposes, it would typically be classified as a non-current asset. The classification depends on the context of its use within the business.
What else can I help you with?
Is a motor vehicle an asset or liability?
asset
Motor vehicles were as fixed assets but why at the same time its can be as current asset also?
A motor vehicle can be a current asset for a company whose business is to sale vehicles.For example Toyota motor co trades in vehicles among other business lines.For Toyota the vehicles they hold for trading purposes are it's stock ,hence a current asset. Kachana Mushongo contact kachana@accamail.com
Why do amount for vehicle appear under non current asset and current asset?
Because it's a fixed asset
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.
Is gold is fixed asset or current asset?
Current asset
Is cafe a current asset or fixed asset?
Current asset.
Is prepaid insurance a current asset or fixed asset?
Current Asset
Are motor vehicles a debit or credit?
Motor Vehicle is an asset for business and long term asset which is shown under balance sheet as a asset and like all other fixed assets which has debit balance as normal balance it also has debit balance as normal balance.
Is money lent by a bank a current asset or non current asset?
non current asset
Is a security deposit a current asset or current liability?
Current Asset
Is Motor Vehicles an asset or liability?
asset
Is premises a current asset or non current asset?
non-current assets.
