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Is inventories considered an asset or liability?
Inventories are those costs the benefits of which has to be taken by company in future time period while payment made already as these are part of future revenue generating activities that's why inventories are assets of company.
What is an economic resource that is expected to be of benefit in the future?
assets
Is an asset a cost that will be matched with revenues in a future accounting period?
Some assets will become costs in a future period such as Inventory and Prepaid Expenses. Fixed Assets will be depreciated in future periods. However, assets such as Cash and Accounts Receivable do not represent future expenses.
Why are inventories considered in a balance sheet?
Inventories are those items which is usable in future for generating business revenue of which payment is made in advance so these are assets for business and that’s why shown under current asset of balance sheet.
What is the difference between outstanding assets and outstanding liabilities?
Outstanding assets are assets that are owed to an individual or business. Outstanding liabilities are debts that ill be incurred in the future.
What are the opportunities for people in the future if people visit antarctica?
Antarctica is a place of natural beauty which needs to be preserved for future generations
What things are considered assets?
Assets are items of value that a person or organization owns, such as cash, property, investments, and equipment. These assets can be used to generate income or provide future benefits.
what is future of btc in 2024?
Yes, Bright future of digital assets coming in 2024
Why was Famagusta Cyprus never repopulated?
It was preserved for a future settlement (i.e. exchange of land).
What are company assets?
A company's assets can be monetary/non-monetary tangible/intangible objects that it has a legal claim to. Assets can be used in the operations of business, to gain future benefits or to decrease your liabilities.
What are the similarities of assets and expenses?
Both assets and expenses are fundamental components of a company's financial statements. They represent the use of resources, with assets reflecting what a company owns that can provide future economic benefits, while expenses indicate the costs incurred in generating revenue. Additionally, both can impact a company's cash flow and overall financial health, influencing decisions made by management and investors. Ultimately, they play a crucial role in assessing a company's profitability and financial stability.
Why are preliminary expenses considered as current assets?
because we get the benifit of such expenses in future
