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asset
Inventory is a current asset so when the required inventory is utilized the remaining inventory still remain as asset and not become liability.
For example
inventory of $100 purchase to use for production which is our current asset. when inventory of $90 utilized the remaining $10 is still our current asset while $90 become expense for production of units.
What else can I help you with?
Is ending inventory in business an asset or liability?
Assets
Is an inevtory an asset or liability?
Inventory is a current assets of company because by selling the inventory company earns revenue and generate profit
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
What transaction would increase an asset account plus increase a liability account?
A transaction that would increase an asset account and a liability account is when a company purchases inventory on credit. In this case, the inventory account (an asset) increases, while accounts payable (a liability) also increases due to the obligation to pay the supplier in the future. This transaction reflects an increase in both resources owned by the company and the debts owed.
Is inventory an asset or liability?
Basically Inventory is valuated an asset. You keep inventory to service your customers and to smoothen production by purchasing semi-finished stuff. Inventory ties up your working capital hence the objective is to return your investment as soon as possible. A good measurement is the ratio of inventory turnover. Inventory becomes a liability when the life cycle ends either by becoming obsolete/discontinued or by means of expiry. Write offs are valuated as liabilities.
Is billings in excess of cost reported in current asset side is your inventory?
No, billings in excess of costs are a current liability.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
Is Cash an asset or liability?
Asset.
Is a premises an asset or liability?
asset
