To: 1rudeboy
An asset has value, if it's value goes negative it's ceased to be an asset and become simply a liability.
81 posted on
02/01/2006 10:47:13 AM PST by
x5452
To: x5452
So an asset with negative value is a liability. Thanks for clearing that up. Does a vehicle with negative value exist in the physical realm? Is it a physical liability? I mean, must I pay for parking when I drive Arthalion's car?
84 posted on
02/01/2006 10:50:26 AM PST by
1rudeboy
To: x5452
So Mr. 5452, you derive income from your assets by the fact that you rent out property you own. Correct?
So, if all your tenants moved out or lost the ability to pay, would you no longer classify your properties as assets?
87 posted on
02/01/2006 10:55:55 AM PST by
mske
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