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  • Accounting (CA - CPT)
  • Insurance prepaid will be a
Multiple choice

Insurance prepaid will be a

  1. current liability

  2. current asset

  3. fixed asset

  4. contingent liability

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Correct; insurance prepaid is the amount paid before. Hence, it is an asset.

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