Examlex
Which of the materials best represents the presence of life?
Prepaid Insurance
An asset account representing insurance payments made in advance for future coverage periods, recognizing expense over the coverage term.
Current Asset
An asset likely to be converted into cash within a year, used in the normal operations of a business.
Plant Asset
A long-term physical asset that is used as part of a company's operations to help in generating revenues, similar to a fixed asset but specifically related to manufacturing.
Land
Real property consisting of natural resources and geographic space, which has various uses such as agricultural, commercial, or residential.
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