If There Is a Balance in the Prepaid Rent Account

question 46

Multiple Choice

If there is a balance in the prepaid rent account after adjusting entries are made, it represents a (n)

• A) deferral
• B) accrual
• C) revenue
• D) liability

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Definitions:

Headquarters

The main office or center of operations for an organization or company, where key administrative activities are coordinated.

Congress

Congress is the bicameral legislature of the United States, comprising the Senate and the House of Representatives, responsible for making federal laws.

Material Benefit

An advantage or gain, often in a tangible form, resulting from an action or a specific situation.

Solidary Benefit

Advantages or rewards derived from the social interactions and connections made within a group or organization.