Final answer:
A customer's debt to a business is considered an asset for the seller because it is expected to be paid in the future.Yes, a claim against the customer is considered an asset for the seller
Step-by-step explanation:
When a business allows a customer to pay for services at a later date, this creates a claim against the customer, which is considered an asset for the seller. This is because the customer owes money to the business, and this debt is expected to be paid in the future, which makes it an asset as it is an item of value the firm owns.
Yes, a claim against the customer is considered an asset for the seller. When a business allows a customer to pay for services provided at a later date, it creates an account receivable, which represents a claim due from the customer. This claim is considered an asset because it represents a future economic benefit that the seller expects to receive.This is because the customer owes money to the business, and this debt is expected to be paid in the future, which makes it an asset as it is an item of value the firm owns.