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.

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Definitions:

Kinetic Energy

Energy of motion. Compare with potential energy.

Legs

Limbs on animals and humans used primarily for supporting the body and facilitating locomotion or movement.

Motion

The change in position of an object with respect to time and its reference point.

Potential Energy

The energy stored by an object due to its position in a force field or its condition.