0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is bank account an asset?
Yes, bank account is an asset (provided it is not a loan or credit card account). Since a Bank account is a place where we deposit and keep money, it can be considered an asset. (And this is only as long as you have cash in your account. If your account balance is 0 it is not an asset)
Is accounts receivable a permanent account?
Yes it is a real account. Accounts receivable is considered an asset and asset accounts are real or permanent accounts.
Are sundry debtors a liquid asset?
liquid asset
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
Is a cheque account an asset?
The account itself is not an asset, but any money credited to the account is.
Is interest receivable considered an account receivable or other current asset?
It is considered a current asset as in it is not an account and should have a seperate t chart.
Is bank account an asset?
Yes, bank account is an asset (provided it is not a loan or credit card account). Since a Bank account is a place where we deposit and keep money, it can be considered an asset. (And this is only as long as you have cash in your account. If your account balance is 0 it is not an asset)
Is a checking account a liquid asset?
Yes, if it has a positive balance.
Is a valuation account an asset or liability?
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.
Is accounts receivable a permanent account?
Yes it is a real account. Accounts receivable is considered an asset and asset accounts are real or permanent accounts.
Is a car a liquid asset?
A liquid asset is cash or something that can be quickly converted into cash. A car is generally not considered a liquid asset. The reason for this is because it can take some time to sell a car in order to obtain cash.
Is delivery equipment a contra asset account?
No, it is not a contra asset account. By definition, a contra asset account is an account which typically carries a credit balance and is used to accumulate amounts that are reductions of assets. Two common contra asset accounts are Allowance for Uncollectible Accounts Receivable and Accumulated Depreciation. If the delivery equipment is owned by your company then it should be considered an asset.
Is land a liquid or non liquid asset?
is land a liquid asset
What are online money market accounts?
A money market account is similar to a savings account. However, it typically requires a higher balance and offers a higher interest rate. Some accounts also allow check writing from the account, so it is considered a liquid asset.
Are sundry debtors a liquid asset?
liquid asset
Is checking your account an asset or a liabilities?
Checking your account can be considered an asset as it represents the funds you have available for use. However, it can also be seen as a liability if your account has a negative balance or if you owe money to the bank or other creditors.
Is accounts receivable the least liquid or inventory?
No, cash + cash equivalents is the most liquid account. Liquidity is how quickly an asset can be converted to cash.
