Curious. Trying to understand what’s happening with svb, and this concept does not click yet.
In: 1
It’s neither a liability or an asset. If someone lends you $10 to be repaid tomorrow it is an asset you can spend, but a debt you owe.
Accountants have clever tricks for debts over long time periods, but to a layperson this $10 can be treated as repaid.
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