Prepaid Accounts (Also Called Prepaid Expenses)are Generally

question 190

Multiple Choice

Prepaid accounts (also called prepaid expenses) are generally:

• A)Payments made for products and services that never expire.
• B)Classified as liabilities on the balance sheet.
• C)Classified as equity on the balance sheet.
• D)Assets that represent prepayments of future expenses.
• E)Promises of payments by customers.

---

Definitions:

Work Hours

The designated period of time employees are required to work or be present at their job.

Personal Account Representative

An individual assigned to manage the specific needs and inquiries of an account holder in a financial, sales, or service organization.

Cashier

An employee of a retail store responsible for handling customer transactions.