Equipment is NOT categorized as a liability because it is a resource/s that is owned by businesses, not owes. Equipment is the account name for the equipments used by company that has value that lasts more than the operating cycle of the business and is categorized a non-current asset.
To further understand why Equipment is an asset, just continue reading.Assets
In accounting, assets are the resources that a company owns and has monetary value.Two types of asset:Current asset - assets that are usable or convertible to cash within a year or operating cycle of a business.Non-current asset - assets that can't be used or converted to cash within a year or operating cycle of a business.Examples of current asset:Cash and cash -on- of non-current asset:LandEquipment/MachinesIntangible assetsLiabilities
In accounting, liabilities are the resources that a company owes to another business or people.Two types of liabilities:Current liabilities - accountabilities that must be paid or dealt within a year or operating cycle of a business.Non-current liabilities - accountabilities that must be paid but not within a year or operating cycle of a business.Examples of current liabilities:Accounts PayableNotes PayableUnearned RevenuesExamples of non-current liabilities:Mortgage PayableBonds Payable
c. increased assets and increased liabilities
increase assets because the entity by goods which these good can be owned by the company, and increased in liabilities because they buy these goods through credit.
According to the law of supply, when prices increase, the quantity that suppliers create will increase.
Explanation: In microeconomics, the law of supply governs the relationship between the price of a good or service and the quantity offered by its suppliers. All other factors being equal, an increase in the price of a good or service will lead to an increase in the quantity of the good or service on the market. The increase in price incentivizes producers to increase the quantity of the supply. The producers are incentivized by the desire to earn greater profit. If the price increases and the quantity supplied increases, the producers stand to earn more should the quantity supplied be completely sold off.
Ang dalawang ito ay nakapaloob sa Republic Act 7394 o ang Consumer Act of the Philippines. Ang ibig na ipahiwatig ng una mong inilagay ay ito ang nagbibigay proteksyon sa mga konsumer laban sa mga "scam" at iba pang mga hindi dapat na ginagawa ng mga nagnenegosyo at mga nakapaloob sa sektor ng industriya tulad ng mga pangloloko. Binibigyang pansin din ng batas na ito ang mga reklamo at hinaing ng mga mamimili. Sila ay maaaring magreklamo tungkol sa isang produkto o serbisyo at sila ay pakikinggan ng ating gobyerno.