Short Answer on __________

Short Answer on ___________Prepaid Expenses

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Short Answer on ___________Prepaid Expenses..

Prepaid expenses are the expenses paid by the company, but
not incurred.
As we follow accrual concept - it will be considered as an
asset

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Short Answer on ___________Prepaid Expenses..

Answer / amarnath

Prepaid Expense is an expense paid in Advance for future
peiod and at the current period it is not incureed.

Ex: Rent paid in advance

It is treated as asset.

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