A Payment of an Expense in Advance Is Called a Prepaid

question 79

True/False

A payment of an expense in advance is called a prepaid expense.

---

Definitions:

Comedian's Script

A written document containing the jokes, setups, and punchlines prepared by a comedian for a stand-up comedy performance or show.

Provisional Patent

A legal document filed in the United States Patent and Trademark Office (USPTO), that allows an inventor to secure a filing date while preparing to submit a full patent application.

Prototype

An early sample, model, or release of a product built to test a concept or process and to be used as a thing to be replicated or learned from.

1 Year

A period of twelve consecutive months used as a basis for calculating time-related metrics.