The general name for intangible assets that will become expenses in a future period is prepaid expenses

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The general name for intangible assets that will become expenses in a future period is prepaid expenses . The asset account may identify the particular type of prepaid expense. Thus, the name of the asset account that shows the cost incurred for insurance protection in future periods is P _____ Insurance.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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