Is Insurance an Asset or Liability
October 6, 2021 By admin

Is Insurance an Asset or Liability

insuranceCreation.com – Anything that was owned by a company and have a future value that could be measured in money is considered an asset. This includes cash, receivables, inventory, real property, buildings, equipment supply vehicles and incurred expenses.

The asset should be consumed within the year for regular operations and be used for other operations. Current accounts often called accounts are shown in a company’s balance sheet. For an investment to exist at the moment, current securities must be considered a current equity or an asset.