Anything that has economic value to a business is considered an asset. Prepaid expenses are considered a prepaid asset because the item that is paid for in advance, such as the rent or insurance coverage, has monetary value. Prepaid expenses are also considered a current asset because they can...
Prepaid expenses representexpendituresthat have not yet been recorded by a company as an expense, but have been paid for in advance. In other words, prepaid expenses are expenditures paid in one accounting period, but will not be recognized until a later accounting period. Prepaid expenses are i...
Prepaid expenses are payments for goods or services that will be received in the future. These expenses are not initially recorded on a company’sincome statementfor the period when the money changes hands. Instead, prepaid expenses are first recorded on the balance sheet as an asset. But, as...
Prepayments and prepaid expenses are different from each other. A prepayment means that you are just paying your bill earlier. For example, if you have a debt obligation, such as a loan, and you owe $1,000 next month but decide to pay that amount this month, that is a prepayment. A ...
百度试题 题目As prepaid expenses are used, the expired costs of the assets bee expenses.___ 相关知识点: 试题来源: 解析 TRUE 反馈 收藏
a充实地 Substantially[translate] a这款手机4个月以前就停产了 This section handset 4 months before suspended production[translate] aAs prepaid expenses are used, the expired costs of the assets become expenses. 当使用预付的费用,财产的过期的费用成为费用。[translate]...
百度试题 结果1 题目As prepaid expenses are used, the expired costs of the assets become expenses・___ 相关知识点: 试题来源: 解析反馈 收藏
百度试题 结果1 题目As prepaidexpensesareused, theexpired costsofthe assetsbecome expenses.___ 相关知识点: 试题来源: 解析 TRUE 反馈 收藏
Prepaid expenses, also known as deferred expenses, are payments made in advance for goods or services that will be received in the future. These expenses are considered assets on a company’s balance sheet until the corresponding products or services are consumed or utilized. ...
Therefore we can conclude that prepaid expenses vs accrued expenses are mirror reflections of each other. When the prepaid expense is considered as an asset, an accrued expense is a liability in the financial statement. Using anExpense tracking softwarelike Invoicera is the key to managing all kin...