Which of the following types of accounts will always be credited when a prepaid expense account is adjusted?

Question

Quizplus · Accepted Answer

Prepaid expenses are assets that have been paid for but not yet used or consumed. Adjusting the prepaid expense account involves decreasing the asset account and increasing an expense account, resulting in a credit to the asset account and a debit to an expense account. Therefore, the asset account will always be credited.

Which of the Following Types of Accounts Will Always Be