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Prepaid Expenses Classified as Current Assets Represent

Question 21

Multiple Choice

Prepaid expenses classified as current assets represent:


A) current year expenses that have been accrued.
B) cash payments in the current year that will be recognized as expenses and matched against revenues of the next year.
C) cash that has been segregated to pay for future expenses.
D) expenses of the current year that have been paid in advance.

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