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What is utility deposit?

Updated: 12/21/2022
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Q: What is utility deposit?
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Is electricity deposit an asset?

Yes, a utility deposit is an asset.


Is Utility deposit considered cash?

no


Is Utility deposit considered accounts payable?

No, generally a utility deposit is not a payable. On the rare chance that the company allows you to "make payments" on the deposit, until it is paid, the it would be a payable, however, that generally is not the case. A utility deposit is generally required as a "security" deposit to the company providing the service and as a rule must be paid in advance before said service can be activated. Most companies after a prescribed amount of time will and certain requirements are met (no late payments, no disconnection, etc) will refund the deposit to the person/company. If this is the case, then a utility deposit that may be refunded after a certain period of time is actually considered an asset.


What is the difference between a utility deposit and a service initiation fee?

deposits are refundable and fees are not


Can a discharged utility debt become a collection after bankruptcy?

A utility company may not collect any debt that was discharged in a Chapter 7/13 bankruptcy. The discharge injunction, in most cases, prevents a creditor (including a utility company) from collecting a debt that was discharged. However, the utility company can, and often does, require a security deposit before resuming utility services.


Where can one check their Utility Bill?

One can check their Utility Bill on their city's website. For instance, if one lives in Scottsdale, then one can visit the Scottsdale City's website and view payment options and deposit methods.


How long after you file bankruptcy will yoube able to apply for utility service?

You can right away but they will probably require you to pay a higher deposit.


What is difference between prepaid expenses and deposits?

There isn't much of a difference between a prepaid expense and a deposit. Both terms are monies that are paid in advance to pay for something. With a prepaid expense, the money pays usually for a bill or utility. A deposit on the other hand, is sometimes given back after the obligation is paid. If it is not paid, the deposit is kept as payment.


What are three types of utility in economics?

form utility time utility place utility


What are the Different types of utilities created by intermediaries?

There are Six Utilities: Form Utility, Time Utility, Place Utility, Possession Utility, Information Utility, and Service Utility.


What are some economic utilities created by business activities?

Form Utility, Place Utility, Time Utility, Possession Utility, and Information Utility.


Which economic utility is not classified as a marketing utility?

form utility.