When prepaid expenses are recognized as an expense, which of the - ProProfs Discuss
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When prepaid expenses are recognized as an expense, which of the following is true?



A. Prepaid expenses decrease, an expense on the income statement increases and equity increases
B. Cash decreases and equity decreases
C. Prepaid expenses decrease, an expense on the balance sheet increases and equity decreases
D. Prepaid expenses decreases, an expense on the income statement increases and equity decreases

This question is part of Accounting - Chapters 1-4
Asked by ReynaldoJPA, Last updated: Feb 10, 2020

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ReynaldoJPA

ReynaldoJPA

Answered Sep 21, 2017

Prepaid expenses decreases, an expense on the income statement increases and equity decreases
 

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