How wouldan advance payment for rent be classified?
A)Asset source transaction
B)Asset use transaction
C)Asset exchange transaction
D)Claims exchange transaction

Name: How wouldan advance payment for rent be classified? A)Asset source transaction B)Asset use transaction C)Asset exchange transaction D)Claims exchange transaction
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An advance payment for rent is classified as an asset exchange transaction because it involves exchanging one asset (cash) for another asset (prepaid rent).

How Wouldan Advance Payment for Rent Be Classified