Insurance premium paid in advance to insurance company is an example of: a. Outstanding expense b. Prepaid expense c. Accrued revenue d. Accrued expense
Insurance premium paid in advance to insurance company is an example of: a. Outstanding expense b. Prepaid expense c. Accrued revenue d. Accrued expense
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 34MC: What type of account is prepaid insurance? A. Stockholders Equity B. Expense C. Liability D. Asset
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