is/are considered as assets for a business entity.

Loan from bank

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Prepaid expenses

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Advance income

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Bank overdraft

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Prepaid expenses
Prepaid expenses are considered as assets for a business entity as the benefit from the same is yet to be received.

Suggest Corrections

Similar questions

State True or False: The resources owned by a business entity which give future benefits are called assets.

R s .28, 000

R s .8, 000

R s . 2, 60, 000

R s . 60, 000

Join BYJU'S Learning Program