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Question
Expenses Paid in advance are called ________.
Expenses Paid in advance are called ________.
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Solution
The correct option is A Prepaid Expense
Prepaid expenses are future expenses that have been paid in advance. In other words, prepaid expenses are costs that have been paid but are not yet used up or have not yet expired.
Prepaid expenses are future expenses that have been paid in advance. In other words, prepaid expenses are costs that have been paid but are not yet used up or have not yet expired.
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