An Asset Created by a Payment for Economic Benefits That

question 127

Multiple Choice

An asset created by a payment for economic benefits that does not expire until some later time is

• A) recorded as a debit to an unearned revenue account
• B) recorded as a debit to a prepaid expense account
• C) recorded as a credit to an unearned revenue account
• D) recorded as a credit to a prepaid expense account
• E) not recorded in the accounting records