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The difference between internal candidates and external candidates is that:
Prepaid Expense
Expenses paid in advance for goods or services to be received in the future, recorded as an asset on the balance sheet until they are incurred.
Prepaid Insurance
The portion of insurance premiums that have been paid in advance and is recorded as an asset until utilized.
Insurance Expense
Costs incurred by a business or individual for insurance coverage, including health, property, and liability insurance.
Accrued Wages
Wages that have been earned by employees but have not yet been paid by the company.
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