Which of the following is an asset?
a. Service Revenue
b. Notes Payable
c. Supplies Expense
d. Prepaid Rent
- Assets are shown in a company's balance sheet.
- It increases value of operations.
- Assets include Current Assets + Fixed Assets
- Current Assets- Assets which can be converted into cash within 12 months.
- Fixed Assets- Assets which are in the business for long-term period.
Answer and Explanation: 1
Prepaid Rent is a part of asset
Prepaid Rent - It is a current asset account that includes the amount of future rent expense. It is received in...
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fromChapter 2 / Lesson 17
What are assets? Learn the meaning of an asset, the difference between personal and business assets, and who can own assets. See a list of asset examples.