What Type of Account Is Prepaid Insurance

question 52

Multiple Choice

What type of account is prepaid insurance?

• A) Liability
• B) Income
• C) Expense
• D) Asset

---

Definitions:

Stock Tip

Advice or information provided to investors about a stock that is expected to perform well.

Utility of Income

The perceived value or satisfaction obtained from income and the goods and services it can purchase.

Expected Utility

A theory in economics that calculates the utility expected from different outcomes, considering their probabilities.

Game of Chance

A game where the outcome is strongly influenced by random factors or luck.