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Is your personal house an asset ?
Is your personal house an asset ?
Replies (3)
Quick Summary
Yes. if registry is on ur own name
From accounting perspective :- yes it would be an asset if only you have control over it (there can be joint control with family members)
From a financial perspective :- it would be a waste asset because it does not give you cash inflow unless you rent it or sell it
From a financial perspective :- it would be a waste asset because it does not give you cash inflow unless you rent it or sell it
Harshali
Its revenue recognition.
House is an asset.
since there is capital appreciation it is termed as a capital asset.
Its revenue recognition.
House is an asset.
since there is capital appreciation it is termed as a capital asset.
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