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what do you mean by miscellaneous assets?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 kruthika asked over 2 years ago

what do you mean by miscellaneous assets?

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Ashika answered over 2 years ago

Meaning A asset means the properties of every description belonging to the trade or the valuable things owned by a business concern. Ex: cash, goods, buildings, machinery, furniture, computers etc. Miscellaneous Assets are the such assets s which cannot be classified as capital asset. These assets are actually revenue expenditures having lower monetary value and hence shown in the asset side of the Balance Sheet and should be written off over a period of time. Example: Preliminary Expenses, Development expenditures and expenditure on raising of shares and debentures. Expenses are listed on the "Asset" side because the expenses effect Revenue (or income). Because Income is an Owners Equity account and is increased with a credit, expenses must be listed in the debit column. miscellaneous assets that cannot be classified as current assets, fixed assets, or intangible assets. Examples of other assets include deferred tax assets, bond issue costs

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

A asset means the properties of every description belonging to the trade or the valuable things owned by a business concern. Ex: cash, goods, buildings, machinery, furniture, computers etc. Miscellaneous Assets are the such assets s which cannot be classified as capital asset. These assets are actually revenue expenditures having lower monetary value and hence shown in the asset side of the Balance Sheet and should be written off over a period of time. Example: Preliminary Expenses, Development expenditures and expenditure on raising of shares and debentures.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered over 2 years ago

**MISCELLANEOUS ASSETS** Misc. Asset means asset which is not covered under the classification of Fixed Assets as per accounting standard misc-assets which are not shown in profit and loss account for example preliminary expenses . these expenses are kept at the beginning of the company. Other assets are miscellaneous assets that cannot be classified as current assets, fixed assets, or intangible assets. Thanks

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