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Revenue is not considered an assets. Even from a double entry point of view, revenue would be a credit where as assets are debits so there no even interchangeable. If revenue was kept on the balance sheet as deferred income it would be as a liability.
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Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Is cash considered an asset or revenue?
Revenue
Is equipment considered a revenue or asset?
Equipment is an asset for business which is usable in business to generate revenue.
Is service revenue an asset account?
No, it is an owner's equity account.
Is unearned revenue considered an asset?
No it is a current liability and is not included in the Income Statement, as other revenues would be.
Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
Is service rendered considered an asset or owner's equity?
an asset
Is inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
Is a prepaid asset considered an intangible asset?
No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it is Tangible or Intangible.
Is merchandise inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
Is accrued revenue an asset?
no, its a revenue
Is unearned revenue an asset or a liablity?
asset
