Examlex
Regarding dreaming, which statement is True?
Prepaid Rent Expense
Prepaid rent expense is an advance payment for rent that is recorded as an asset on the balance sheet until it is used or consumed in future periods.
Liability
An obligation that a corporation or individual has to another entity, typically financial in nature, such as loans or accounts payable.
Asset
Resources owned by an individual or business that have economic value and can be used to meet debts, commitments, or legacies.
Prepaid Rent Expense
An accounting term for rent payments made in advance of the rental period, recorded as an asset on the balance sheet until the period of use.
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