The Original Entry to Record a Prepaid Expense Will Usually

question 38

Multiple Choice

The original entry to record a prepaid expense will usually include

• A) A debit to an asset account and a credit to another asset account
• B) A debit to an asset account and a credit to an expense account
• C) A debit to an expense account and a credit to an asset account
• D) None of these are correct

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Definitions:

Positive Consequences

Beneficial or favorable outcomes that result from a specific action or set of actions.

Openness to Experience

A personality trait characterized by an appreciation for art, emotion, adventure, unusual ideas, imagination, curiosity, and variety of experience.

Conscientiousness

A personality trait characterized by diligence, carefulness, and a high level of organization and responsibility.

Emotional Stability

A personality trait signifying the consistency of an individual's mood and temperament; opposite of high neuroticism.