Prepaid Workers' Compensation Insurance is what type of account?
A) Asset
B) Expense
C) Liability
D) Contra-asset

Name: Prepaid Workers' Compensation Insurance is what type of account? A) Asset B) Expense C) Liability D) Contra-asset
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Question

Quizplus · Accepted Answer

Prepaid Workers' Compensation Insurance is considered an asset because it represents a future economic benefit to the company, as the payments have been made in advance for insurance coverage that will be provided over time.

Prepaid Workers' Compensation Insurance Is What Type of Account