0
What is the importance of understanding the difference between assets and liabilities according to Robert Kiyosaki?
Understanding the difference between assets and liabilities is important according to Robert Kiyosaki because it helps individuals make better financial decisions and build wealth. Assets put money in your pocket, while liabilities take money out. By focusing on acquiring assets and minimizing liabilities, individuals can increase their wealth and financial stability.
What else can I help you with?
What is the difference between assets and liabilities according to Robert Kiyosaki?
According to Robert Kiyosaki, assets are things that put money in your pocket, while liabilities are things that take money out of your pocket. In other words, assets generate income for you, while liabilities require you to spend money on them.
What happens to debt and liabilities when nonprofit organizations close?
When nonprofit organizations close, their debts and liabilities must be addressed according to state and federal laws. Typically, any remaining assets are liquidated to pay off creditors, and if the organization has insufficient assets to cover its debts, creditors may not recover the full amount owed. Additionally, the nonprofit's governing documents may outline specific procedures for asset distribution, often directing remaining assets to another nonprofit with a similar mission. Unpaid debts may ultimately be discharged, but the organization’s board may still have some liability depending on their actions and the organization's structure.
What should be included in a financial plan to protect assets?
A financial plan should include steps to alleviate debt in order to protect assets. The financial plan should also defined assets according to their importance to the company.
On credit card what is difference between initial credit line and partial line amount?
According to Citi, the partial line amount is the available cash advance amount, and the credit line is the limit on the account
What is the difference between a bank loan and notes payable?
I think a bank loan is when money is borrowed from a bank with the expectation that it will be repaid, and notes payable is then the accumulation of all loan amounts expected to be repaid according to each note (the legal document with the stipulations).
What is the difference between assets and liabilities according to Robert Kiyosaki?
According to Robert Kiyosaki, assets are things that put money in your pocket, while liabilities are things that take money out of your pocket. In other words, assets generate income for you, while liabilities require you to spend money on them.
I have a motor vehicle and have hit my sisters vehicle can she claim against my motor policy?
Yes, she can. It makes no difference who the car is owned by, the insurance company will cover the liabilities according to the policy.
Why is Liabilities Capital always equal to Assets?
Liabilities and capital (or equity) together represent the sources of financing for a company's assets. According to the accounting equation, Assets = Liabilities + Equity. This equation reflects the fundamental principle that all assets owned by a company are financed either by borrowing (liabilities) or through the owners' investments (equity). Therefore, the total value of liabilities and equity must always equal the total value of assets.
How can i prepare realisation account?
To prepare a realization account, start by listing all the assets and liabilities of the partnership or business being dissolved. Record the sale proceeds of assets on the credit side and any liabilities settled on the debit side. The difference between the total credit and debit will represent the profit or loss from the realization of assets. Finally, transfer the net result to the partners' capital accounts according to their profit-sharing ratio.
If current assets are 150 total assets are 350 current liabilities are 65 and total liabilities are 100 what is the current ratio rounded to two digits?
The Asset/Liability Ratio is one of the easiest to figure: Current Ratio = Current Assets/Current Liabilities According to your question that should be: Current Ratio = 150 / 65 Current Ratio = 2.31 (rounded to two digits)
Give examples of non current liabilities and non current assets.?
Non-current assets are assets for which useful life are expected to be used for > 12 months and classified according to company's capitalization policy. Examples are building, machinery, land,and motor vehicles. Non-current liabilities are liabilities not expected to be repaid in the next 12 months. Examples are long term bank loan and lease payable.
According to Heidegger phenomenology is?
According to Heidegger, phenomenology is the study of the structures of experience and consciousness from a first-person perspective, focusing on how we encounter and make sense of the world around us. It aims to uncover the hidden meanings and relationships that shape our understanding of existence, emphasizing the importance of individual lived experiences in shaping our reality.
This is the act of taking or perceiving something according to the usual ordinary or surface meaning?
Literal Understanding
Is there a difference in heart size according to race?
No
What did Aristotle argue?
Aristotle argued that happiness is the ultimate goal of human life, achieved through living a virtuous and balanced life according to his theory of ethics. He also emphasized the importance of logic and reason in understanding the natural world, which laid the foundation for scientific inquiry.
What did Quakers and Jews do?
I guess they mostly DID and still do, aim to live according to how they feel led according to their spiritual understanding.
Do you consider yourself a believer in a non-intervening god, and if so, how does this belief shape your understanding of the world around you?
As a believer in a non-intervening god, I view the world as operating according to natural laws and processes without direct divine intervention. This belief shapes my understanding by emphasizing personal responsibility, the importance of human agency, and the need to seek meaning and purpose within the natural world.
