In a word, no. An asset is something that tends to be a concrete investment, or something that appreciates in value. A car reduces in value as soon as you purchase it, so it is not an asset. The purchase of an expensive car is not a wise investment. Exceptions: A car that is either old and restored, or a customized car may give you more money in the future.
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.
Yes! A car is definitely considered an asset for financial aid to College. consider an area w/no public transportation. You need to be able to get back and forth, for continual productivity.
Not if they are both running, second car is considered and asset and must be sold.
no, it is a fixed asset..
an asset
fixed assest
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Only highly sought after collectible cars might be - typically, a car is a depreciating asset.
Asset impairment is a financial term. When the projected worth of the asset is less than its current worth, the asset is considered to be impaired.
Yes... technically it would be a Current Asset.
No, it is a debt and therfore cannot be considered an asset. the only way to term it an asset is to be the lender.