What should be included in other assets?
Examples of other current assets (OCA) include:
- Advances paid to employees or suppliers.
- A piece of property that is being readied for sale.
- Restricted cash or investments.
- Cash surrender value of life insurance policies.
What is FDIC in accounting?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.
What are the different classifications of assets?
Asset Classification Criteria
- #1 – Current Assets.
- #2 – Long-Term Assets or Fixed Assets.
- #1 – Tangible Assets.
- #2 – Intangible Assets.
- #1 – Operating Assets.
- #2 – Non-Operating Assets.
- #3 – Fixed Assets.
- #4 – Inventory.
What is miscellaneous asset?
Miscellaneous Assets means all tangible and intangible assets used, held for use or useable in the operation of any Station and not otherwise specifically referred to in this Agreement, including any warranties relating to any of the Purchased Assets, excepting therefrom only the Retained Assets.
What falls under other assets?
Examples of assets that may be classified as other assets are advances to employees, bond issuance costs, deferred tax assets, and prepaid expenses.
Which of the following is not included in other current assets?
Answer and Explanation: The answer is (c) Bonds.
Does FDIC cover each account separately?
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC provides separate coverage for deposits held in different account ownership categories.
What are miscellaneous assets in a balance sheet?
Miscellaneous Balance Sheet Assets means the aggregate amount of cash and cash equivalents, trading securities, restricted cash, due from affiliates, and other assets set forth on the Valuation Balance Sheet described in Section 13.1. 1.
Which assets Cannot be included in current assets while calculating the current ratio?
Furniture is a fixed asset and it is not included in current assets. Hence while calculating the current ratio furniture is not taken into account.
Which assets are included in current assets?
Current assets would include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets. Current assets may also be called current accounts.
Does FDIC cover multiple accounts at the same bank?
The FDIC adds together all single accounts owned by the same person at the same bank and insures the total up to $250,000.
Which of the following financial assets is insured by the FDIC?
You are probably familiar with the traditional types of bank accounts – checking, savings, and certificates of deposit (CDs) – that are insured by the FDIC.
Which of the following is protected by the FDIC?
FDIC deposit insurance covers retirement accounts in which plan participants have the right to direct how the money is invested, including: Individual Retirement Accounts (IRAs) Self-directed defined contribution plans, such as a 401k or profit-sharing plan. Self-directed Keogh plan accounts.
How many types of assets are there in accounting?
When we speak about assets in accounting, we’re generally referring to six different categories: current assets, fixed assets, tangible assets, intangible assets, operating assets, and non-operating assets. Your assets can belong to multiple categories. For example, a building is an example of a fixed, tangible asset.