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A fire extinguisher is typically classified as an asset on a company's balance sheet because it provides a future economic benefit by protecting against potential fire hazards. Assets are resources owned by a company that have measurable value and are expected to provide future benefits. While the initial purchase of the fire extinguisher may be recorded as an expense on the income statement, the extinguisher itself is considered an asset as long as it continues to provide value to the company.
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What class of fixed asset does a fire extinguisher belong?
office equipment
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
When do you expense an asset?
preliminary expense is the expense for fitting the asset or similar works, so this expenses capitalized.... and is called fixed asset
Under what expense is the fire extinguisher?
A fire extinguisher is typically categorized under "safety equipment" or "fire safety" expenses in a business's budget. It may also fall under "equipment" or "maintenance" expenses, depending on the accounting practices of the organization. Additionally, if the extinguisher is part of a larger fire safety system, it could be included in facilities management costs.
Is utilities asset or expense?
Expense
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is expense a asset or liability?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Diagram of fire extinguisher?
how does a fire extinguisher work
What fire extinguisher for electric fire?
A Class C fire extinguisher.
What fire extinguisher for electrical fire?
A Class C fire extinguisher.
Is rent expense an asset or liability?
Its an asset.
