hmmmmm.....
Wednesday, January 24, 2018
44 comments:
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ASSET ASSET ASSET ASSET ASSET !!!
ReplyDeleteIt's a depreciating asset.
DeleteA car is not an asset in the sense that it doesn't appreciate instead it depreciates,the value falls as years go by,a car is a necessity though,but Gold on the other hand is an asset because the values goes up,it never depreciate,landed properties are assets.
DeleteSince the options available are ASSET and LIABILITY?
ReplyDeleteIt is A liability! A liability!! A liability!!!
Something that shouldn't be gotten unless as a single man/woman you have locked down AT LEAST a plot of land.
As a married person, get it for the sake of the children,I personally feel for women and the stress that go through with infants in public vehicles.
Na person way get money dey drive car. It's a liability if one is broke and the car needs to be fixed. My 2cent
DeleteIt is a necissity.
ReplyDeleteNecessity
DeleteMore of a liability but kind of an asset
Deleteon neutral grounds.regardles of being rich or poor..car is a liability.
ReplyDeletecar is a liability..it doeant appreciate.it takes away from you.in terms of your energy, little resources on fueling..maintainance too..so it is a LIABILITY.
ReplyDeleteand car doesnt make you rich.anything that doesnt make you rich and increase or provide income is a liability
Thanks for helping me type it’s dam liability an expensive one at that.
DeleteA car is a liability. It depreciates with time.
ReplyDeleteThe Walking Warfare Robots hack actually is an awesome set of hacks which may improve your robotic's talents main you to various advantages within the sport.
ReplyDeleteYou say????
DeleteStella it’s not tough atall. An asset is something that once you acquire, has a future yielding value while a liability has a future potential to make you spend on it. Which one does a car do? Once a car leaves the shop, the value starts depreciating. It’s not an asset.
ReplyDelete👏🏽👏🏽👏🏽👏🏽👏🏽
DeleteWhat is tough here.
ReplyDeleteA car is a necessity in this our obodo naija. Not even asset or liability but a necessity. Try parking your car for a week and jump bus under sun,then you can come back and debate this.
let's start with the following...
ReplyDeleteLiability is sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions.put in one word Disadvantages
Assets are economic resources that can produce positive value.
From the above...
A car which produces a positive value doesn't makes it a good asset but still remains an asset.
To make the point clear, a car is an asset but a DEPRECIATING ASSET.
Another example, using psychological principles
We say learning is a relatively change in human behaviour as a result of experiences and maturity
but not all behaviour are regarded as learning.. E. G
Sucking of breast is not referred to as learning because it's an in born traits
Sorry for digressing
Mc pinky
I think trekking and hopping from keke to bike is more of a liability and a hazard, for me a car is an asset although 1 that depreciates in value though.
ReplyDeleteIt's a liability in the sense that, you have to spend to care for it and no matter how much you spend on it, it doesn't appreciate in value but it's a necessity.
DeleteNecessary liability
ReplyDeleteIts a liability as it doesnt appreciate. You spend on it by maintaining it and feuling it. You can only get money from it if you put it to public use.
ReplyDeleteI have had several cars. So if a car is an asset or liability is very relative. It's dependent on factors like other unsolved problems and how comparatively easy the ownership of a car makes your life.
ReplyDeleteHow I've missed this blog, I am back 🙌🙌🙌🙌🙌😍😂😂😂😭😭😭
ReplyDeleteIn order to explain further,
ReplyDeleteLadybug bought a car worth of 2.5million with the aim have using it for Uber
While
Emjay bought an half plot of land along ejigbo area for #900,000 with the aim of cultivating crops and rearing of animals.
Both parties has gotten a good asset but ladybug is having a depreciating asset because if after some years of usage and she tend to sell it out, my dear.. Oyo is her case
But
Emjay will be able to resell that half plot of land for 6million after some years because the area would have been developed due to easy accessibility to good road,electricity etc.
Mc pinky
Its a liability
ReplyDeleteAnd its also an asset if its fetching u real cash...
So it depends on u😉
Yep a tough one...don’t know. I’d like to ask if people think a car is a necessity or luxury?
ReplyDeleteI bought a land a little over a year ago for 5M and now it is worth 15M. That is an asset. Is there any car that can give you such value for your money.
DeleteLiability but a necessity. ..
ReplyDeleteLiability to those that don't have a tangible source of income and valuable properties...
Neccessity:to follow up your day to day activities...
#Sometimes you’ll never get the closure you want from someone, so you have to learn how to give yourself your own closure*
ReplyDeleteWell it depends on where you are? In naija it is an asset. All those saying it's a liability are saying it from a point of where they are at present. The transportation system in naija is terrible so if you need a car to move around and get a whole lot of things done. It's only a status symbol when it's a very expensive car. But a car can really help you grow your business, save you from exposing yourself to accident and so many health risk. Even in developed countries people buy cars as assets cause atimes it's just not appropriate going via public transport. It's only a liability when you are struggling to maintain it and can't afford the day to day running. Which is very common among car users in naija.
ReplyDeleteIt's a necessity.
ReplyDeleteIt is necessity.
ReplyDeleteReason :
Marry, have kids, jump danfo with them and then you will understand the reason why it is necessity.
Liability if I may say because cost of maintaining it only removes money and not addition. Meanwhile it can be converted to assets if channels into Business like Uber etc.
ReplyDeleteIt is a liability.
ReplyDeleteIn as much as you are fueling, servicing, repairing it & you don't use it for any commercial purpose & no depreciation chargeed on it, it is a liability. Quote me anywhere
ReplyDeleteCar is a 'necessary' liability.
ReplyDeleteThat's it.
It is a neccessary liability
ReplyDeleteWhat is there to argue about? A car is a necessary liability.
ReplyDeleteMake I answer this question sounding like person wey don read book die:
ReplyDeleteThe simple answer - it depends on who you are and what purpose the car serves for you.
I will elaborate.
First, for the avoidance of any ambiguity, a car will be assumed to be a none commercial small to medium sized vehicle with a weight between 1500Kg and 4000kg.
Next, for a baseline, let us define an asset as anything which increases your net value or reduces the loss of net value and a liability as anything which reduces your net value or prevents the increase of your net value.
Next, question is, what constitutes value for you? For the purpose of answering this question, I will restrict this to just time and money value, where time is assumed to be valuable because a person with value potential will produce a certain amount of money within a certain unit of well-employed time (note the use of well-employed). Note, other things may also be considered of value - like a public image, comfort/convenience, the happiness of family members etc. but none of these will be considered in this assessment.
So, if the time of person A is worth N10,000 per hour and owning a car can save him 1 hour daily, and the car has an average daily cost and depreciates of say N5,000 daily. Then daily, the car is able to yield a net of N5,000 for A. For person B whose time is worth N1,000 per hour and other factors remain the same as person A, then B is at a net loss of N4, 000 daily. Yet, realistically, because person B is also probably going to drive a poorly maintained car, chances are that the car will cost B more to use and sometimes will cause a loss of time due to break down, increasing the average daily loss of value to B. So, to A, the car appears to be an asset and it is a liability to B.
Yet, this is a very simple model because it has not taken other factors into consideration. Factors such as location, career etc. For example, in the UK, you will also pay a hefty road tax, insurance, do compulsory MOT etc on the car. But in the same UK, using certain cars could influence your access to some high-networth networks.
A car is both an asset and a liability. If you use it to make money i.e charge for taking people to work (as we witness here in Abuja, where even a V.8 SUV is used as a cab),then it's an asset. But if you just buy and use it to show people how rich you are,without having if a room to your name,then it's a liability...
ReplyDeleteIt is both an asset and a liability. Liability in the sense it is wear and tear.
ReplyDeleteAsset in the sense that you feel fulfilled when you think of the struggle with entering danfos, molue, keke, okada etc
its a liability in Australia, you have to register annually with $700 and pay car insurance. fueling and buying parts nko?
ReplyDeletedepends on what its being used for
ReplyDelete