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Does unused stationery is asset

Atharv Sankliya (1323 Points)

26 March 2022

does unused stationery is asset for firm and does it will appear in Balance sheet ??

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6 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 26 March 2022

No.Its not asset..

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Atharv Sankliya (1323 Points)
Replied 26 March 2022

Why and what is the best definition for assets

sabyasachi mukherjee (27117 Points)
Replied 27 March 2022

No it's charged to profit loss account.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 27 March 2022

On payment basis you may book the expense in P & L

sabyasachi mukherjee (27117 Points)
Replied 28 March 2022

It's mentioned charged items means which has no benefit for the current year.

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 28 March 2022

Consumption of stationary is based in the practicality.

It is accounted as expense on payment or invoice basis.

Consumption need not be looked into unless the transactions very huge

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