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Question Practice

If a business has a prepaid insurance expense of $800 for the next year, how would it appear in the balance sheet?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

If a business has a prepaid in...

Single Answer MCQ
Q-00053598

If a business has a prepaid insurance expense of $800 for the next year, how would it appear in the balance sheet?

1

As a liability

2

As an asset

3

As an expense

4

It does not appear in the balance sheet

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