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What is legacy assets?
Legacy assets are those assets which are less productive (outdated) and in some cases least productive overtime, they are just on the brink of being a liability. When assets lose considerable value they are often termed as legacy assets. Literal meaning of the word legacy is outdated or obsolete.
Why are margins required when traders write options but not when they buy options?
When you buy an option, you are buying an asset, and do not have a future liability. When you write an option, you are potentially incurring a future liability Thus you need some assets to back this liability.
A way to protect the personal assets of an investor against losing everything if a business fails?
LIMITED LIABILITY
What is the recommended amount of liability insurance that you should have?
The recommended amount of liability insurance you should have is typically at least 100,000 to 300,000, but it can vary depending on your individual circumstances and assets. It's important to consider factors like your income, assets, and potential risks when determining the appropriate coverage amount.
What is a claim against a firms assets by a creditor called?
liability Contemporary Business 2009 update pg 522
Does liability equals assets plus equity?
NO! The accounting equation isAssets = Liability + Owners EquityTherefore if you want to change the formula around the following would be correct.Liability = Assets - Owners EquityorOwners Equity = Assets - Liabilities
Why Liability equals Assets - Owners Equity?
Because Assets equal to Liabilities plus Capital: ASSETS= LIABILITIES + CAPITAL This is a Mathematical equation, try to figure it out by your own.
What is creditors for good assets or liability?
Liability
What are the advantages of being a limited liability company?
A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.
What is the effect on accounting equation if assets increases?
accounting equation assets = liabilities + capital so if assets increases either liability or capital will increase for this purpose 1. assets means both long term assets and short term assets 2. capital means owners equity 3. liability means outsliders liability
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
Is a Reserve account an asset or liability?
It is assets
Are retained earnings an asset or liability?
assets
What does total assets less net fixed assets equals?
Total assets less net fixed assets equals
How are assets and liability treated?
If asset is increased it is Debited in Ledger and if liability increases it is credited. Accounts Receivables are treated as assets. Both Assets and Liabilities are shown in face of Statement of Financial Position.
What other term would mean almost the same as assets and liability?
Net assets
Where we take contingent liability in balance sheet?
assets
