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Your computer system loses power while you are working on a project for a very important client. When the computer restarts, you hear continuous beeps coming from your computer, and the monitor is showing no signal.
What do the beeps mean?
Prepaid Expenses
Expenses paid in advance for goods or services to be received in the future.
Insurance Expense
The cost associated with purchasing insurance to protect against various risks, recorded as an expense.
Unearned Revenue
Money received by a company for goods or services yet to be provided. It is considered a liability until the service is delivered or the product is provided.
Investments
Assets purchased with the aim of generating income or appreciation, including securities, real estate, and other financial assets.
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