In the Intertemporal Budget $\text { constraint, } f _ { \text {future } } - f _ { \text {todey } }$

question 63

True/False

In the intertemporal budget $\text { constraint, } f _ { \text {future } } - f _ { \text {todey } }$ is today's saving for the future.

---

Definitions:

Prepaid Insurance

Prepaid insurance is the portion of insurance premiums that has been paid in advance for coverage over future periods, and is classified as a current asset on the balance sheet.

Unearned Revenue

Money received by a business for services or products yet to be delivered or provided; considered a liability until the service or product is delivered.

Utilities Expense

The cost incurred by a business for the consumption of utilities services like electricity, gas, water, and sewage.

Accounts Payable

Liability accounts representing the amounts owed by a company to its suppliers or creditors for goods and services received.