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Outline should account for children as an asset

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Reference no: EM132788179

Accountant's note

  • Santa Claus is not coming to town this year due to the quarantine. Therefore, parents should buy children's Christmas gifts out of their own pockets on this Christmas.
  • Our children are our most valuable assets. They are our future leaders. What we feed them today, shapes our tomorrow. On the other hand, once you have a child it is a twenty-year project. That is if they do well, if they do not do well it is a lifelong project.

problem 1: Outline whether we should account for our children as an asset or liability from accountant's perspective.

Reference no: EM132788179

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