Which of the Following Statements Is Not True Regarding Prepaid

question 15

Multiple Choice

Which of the following statements is not true regarding prepaid expenses?

• A)Prepaid expenses represent assets.
• B)Prepaid expenses are shown in a special section of the income statement.
• C)Prepaid expenses become expenses only as goods or services are used up.
• D)Prepaid expenses appear in the balance sheet.

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Definitions:

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