Prepaid expenses are considered as ________

Expenses

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

Liabilities

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

Income

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

Assets

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

Open in App

Solution

The correct option is D
Assets

Prepaid expenses are considered as assets as the benefit from such expenses needs to be obtained in future period.

Suggest Corrections

Similar questions

State the meaning of

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

State the meaning of:

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

Join BYJU'S Learning Program