A prepaid expense can best be described as an amount
A) paid and currently matched with revenues.
B) paid and not currently matched with revenues.
C) not paid and currently matched with revenues.
D) not paid and not currently matched with revenues.

Question

Quizplus · Accepted Answer

Prepaid expenses are amounts that have been paid upfront but have not yet been used or consumed. They are not currently matched with revenues because the expenses have not yet been incurred.

A Prepaid Expense Can Best Be Described as an Amount