Which of the following accounts is an asset?
A) Salaries Expense
B) Accounts Payable
C) Service Revenue
D) Prepaid Expense

Name: Which of the following accounts is an asset? A) Salaries Expense B) Accounts Payable C) Service Revenue D) Prepaid Expense
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Question

Quizplus · Accepted Answer

Prepaid Expense is an asset as it represents a payment made in advance for the purchase of goods or services that will be consumed or used up in the future.

Which of the Following Accounts Is an Asset