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Name the following compound.
Prepaid Rent
Expenses paid in advance for the use of property or equipment that is recorded as an asset until the period it benefits.
Balance Sheet
A financial outline showing the holdings, debts, and the portion belonging to shareholders of a company on a certain date.
Adjustment
Modifications made to financial records to correct errors, align with accounting standards, or reflect changes due to transactions or events.
Fixed Assets
Long-term tangible assets that a firm owns and uses in the production of its income and is not expected to be converted into cash in the short term, such as buildings, machinery, and land.
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