What Type of Account Is Prepaid Rent and What Is

question 48

Multiple Choice

What type of account is Prepaid Rent and what is its normal balance?

• A)expense and debit
• B)liability and credit
• C)revenue and credit
• D)asset and debit

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Definitions:

Competencies

A set of defined skills, knowledge, abilities, and attributes that are necessary for successful performance in a job or role.

Hrm Programs

Human Resource Management initiatives designed to maximize employee performance in service of an organization's strategic objectives.

External Supplies

Goods or services obtained from sources outside the organization to support its operations.

Labour Market Trends

Patterns or movements in employment sectors, such as changes in job availability, demand for specific skills, or wage levels.