Accountıng I Deneme Sınavı Sorusu #1313611
Which one of the following describes an early payment of future liability?
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Accounts Receivable |
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Accounts Payable |
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Notes Receivable |
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Equipment, Furniture, and Fixtures |
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Prepaid Expenses |
Yanıt Açıklaması:
Companies might pay certain expenses in advance, such as insurance and rent. A prepaid expense is considered as an asset because the prepayment provides a future benefit for the business. Prepaid Rent, Prepaid Insurance, and Supplies are examples of prepaid expenses.
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