Prepaid expense is _________ to the business
A) Asset
B) Liability
C) Expense
Correct Answer:
Verified
Q64: Balance sheet is prepared for a _
A)Period
B)On
Q65: Income received in advance is an _
A)Asset
B)Liability
C)Expense
Q66: If goods are destroyed by fire ,
Q67: Provision for account on creditors has a
Q68: Income earned but not received to known
Q70: Withdrawing more amount from bank than the
Q71: Income of overdraft, pass book will show
Q72: Cash book shows _balance when there is
Q73: When bank charge incurred, overdraft will be
Q74: _ balance in cash book indicate deposit
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