Is the Telephone Considered an asset or a Liability?

Silly Question , I know but I just wanted clarification.

An Asset is something that puts money in your pocket.
A Liability is something that takes money out of your pocket.

So A telephone bill is considered an Expense.

A car, according to Robert Kiyosaki is a liability because it incurs expenses , ie petrol

Silly Question , I know but I just wanted clarification.

An Asset is something that puts money in your pocket.
A Liability is something that takes money out of your pocket.

So A telephone bill is considered an Expense.

A car, according to Robert Kiyosaki is a liability because it incurs expenses , ie petrol and you have to pay car installments every month.

But is a telephone such as a sophisticated I Phone or a normal basic cellphone considered a Liability as well ?

What about the office equipment?
Is the telephone in an office equipment setting considered a liability or asset ?

Best Answer:

tina: You need to separate "telephone equipment" and "telephone service" to get this accurate.

The equipment is an asset, same as office equipment. It can be depreciated.

Telephone service is like a utility, and it a liability.

Other answer:

tina:
Poor Dad, Rich dad can go fly a kite. I have a real accounting degree whereas he is peddling dubious advice.
A telephone is an asset, because you own it. The bills that happen when you use it are liabilities … but in the grand scheme of life I would not worry about it. [Office equipment is also an asset. Ink, paper, toner, etc are expenses.]
MKultra:
That's not really true. An asset is something of worth that you own. A house is an assett (if you own it) as are other possesions like a car.
A liability is something you are liable for, like a debt.
Brown:
Am Brown from USA and i want to say a very big thanks to Mary Pery for helping me get a loan and i will be forever grateful to her and i will like you all who is in need with a loan to contact her via email: marryperyloanhome@gmail.com
James:
telephone!

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