Which of the following is not a current asset?
Inventory
Prepaid insurance
Fixtures
None of these
Fixtures and furnitures are part of a firm's fixed assets. They form a part of non-current assets.
Which of the following is not a function of insurance?
(a) Risk sharing
(b) Assist in capital formation
(c) Lending of funds
(d) None of these
Ending Prepaid Rent, Prepaid Insurance etc.+ Expired Rent, Expired Insurance etc. − Beginning Prepaid Rent, Prepaid Insurance etc. is equal to ___