Which of the Following Is an Example of a Prepaid

question 120

Multiple Choice

Which of the following is an example of a prepaid expense?

• A) Supplies
• B) Accounts Receivable
• C) Unearned Subscriptions
• D) Unearned Fees

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Definitions:

Accounts Receivable Turnover

A ratio that measures how many times a business collects its average accounts receivable balance in a period.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, listing assets, liabilities, and equity.

Sales On Account

represent transactions where goods or services are sold with the agreement that payment will be made at a later date.

Cost Of Goods Sold

The total cost of manufacturing or acquiring the products sold by a company during a specific period, excluding indirect costs.