Prepaid expenses are costs that are paid for before they are used.

Prepaid Expenses

Payments made in advance for goods or services to be received in the future, recorded as assets on a balance sheet and expensed over time as the goods or services are consumed.

Costs Paid

Expenses that a company has incurred and settled through payment.

Recognize the features and treatment procedures of specific accounts like Accumulated Depreciation, Prepaid Expenses, and Liabilities.

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Bryanna SaldanaNov 19, 2024

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Learning Objectives

Recognize the features and treatment procedures of specific accounts like Accumulated Depreciation, Prepaid Expenses, and Liabilities.

Prepaid expenses are costs that are paid for before they are used.

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Learning Objectives

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