What Type of Account Is Prepaid Rent,and What Is Its

question 131

Multiple Choice

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

• A) It is an expense account and has a debit balance.
• B) It is a liability account and has a credit balance.
• C) It is a revenue account and has a credit balance.
• D) It is an asset account and has a debit balance.

---

Definitions:

Constitutional Adviser

A legal expert specializing in constitutional law, often advising entities or individuals on matters related to the constitution.

Supreme Court Justices

Members of the Supreme Court of the United States tasked with interpreting and applying the law in federal cases.

Original Jurisdiction

The authority of a court to hear and decide a case for the first time, as opposed to reviewing a lower court's decision.

Foreign Ambassadors

Official representatives of a country's government who work in another country to manage diplomatic relations and protect the interests of their home country.