GB 518 Course Great Wisdom / tutorialrank.com GB 518 Course Great Wisdom / tutorialrank.com | Page 28

$138,500

$140,000

$150,000

Question 14. Question :

Prepaid expenses are:

Payments made for products and services that
do not ever expire
Classified as liabilities on the balance sheet

Decreases in retained earnings

Assets that represent prepayments of future
expenses