Examlex
Write the correct abbreviation for each of the following.
-Milliequivalent _____
Prepaid Insurance
An asset account that reflects insurance premiums paid in advance, which are expensed as the insurance coverage periods expire.
Current Asset
An asset on the company's balance sheet that is expected to be converted into cash within one year of the reporting date.
Adjusted Trial Balance
A statement that lists all accounts and their balances after adjusting entries are made, used to prepare financial statements.
Unadjusted Trial Balance
A preliminary report listing all the accounts and their balances from the general ledger before any adjusting entries are made to prepare financial statements.
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