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Is a valuation account an asset or liability?

Anonymous

∙ 12y ago

Updated: 11/10/2022

The conceptual framework considers asset valuation accounts to be part of the related asset account. They are not considered to be assets or liabilities in their own right.

Wiki User

∙ 12y ago

What else can I help you with?

The transaction would increase an asset account and increase a liability account?

Is a purchase discount account an asset or liability?

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It is assets

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Is a checking account considered an asset or a liability?

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