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That is usually called an asset.
by maneesh 5y ago
That is usually called an asset.
- Kye 5y agoBanks record deposits as liabilities because they're owed to someone. Law enforcement with sufficient pretense to get a judge to sign a warrant is owed any data Google holds. Data is a liability.
- dredmorbius 5y agoWhilst true, that's not how "data are a liability" uses the terms. In banking or brokerages, loans and credit extended are assets as they're value owed to the bank by others. Deposits, held certificates (e.g., stocks), or stored valuables (gold in a safety deposit box) are liabilities because others can make claims on them. Checking accounts are literally "demand deposits" in the sense that the funds are demandable at any time by the accountholder. Many savings accounts actually have limits on the amount or rate of withdrawal. These are typically large and generous, but they may exist.