What type of account is prepaid insurance? A. Stockholders Equity B. Expense C. Liability D. Asset

Question:

What type of account is prepaid insurance?
A. Stockholders’ Equity
B. Expense
C. Liability
D. Asset

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

See More Books

Question Posted: Aug 09, 2022 11:56 PM

See More Questions

What type of account is Discount on Bonds?
What type of account is the Allowance for Doubtful Accounts?
What type of account is Market Adjustment? How is it disclosed on the financial statements?
In 2006, Walmart was operating more than 6,500 stores with 1.8 million employees around the world. In the early 1990s, Walmart Stores Inc. expanded into Canada, with the purchase of 122 stores from...
Why is YTM important?
A building contractor has decided to purchase a load of factory-reject aluminum siding as long as the average number of flaws per piece of siding in a sample of size 35 from the factory's reject pile...
Distinguir entre los elementos de la mezcla de marketing y las fuerzas del entorno.
How would you evaluate the work that Niele has performed to date? As Sage Niele, the newly appointed Vice President of Operations and Chief Financial Officer for the Midsouth Chamber of Commerce...
Listed below are a number of financial statement captions. Indicate the following for each item: (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense), and (2)...
ZIM Inc. (ZIM) is a high-technology company that develops, designs, and manufactures telecommunications equipment. ZIM was founded in Year 5 by Dr. Alex Zimmer, the former assistant head of research...
Which of the following accounts will normally have a debit balance? A. Common Stock B. Fees Earned C. Supplies D. Accounts Payable
Unearned service revenue occurs when which of the following occurs? A. Company receives cash from a customer before performing the service B. Company pays cash before receiving a service from a...
What are the general duties that agents and principals owe each other? Are there situations in which the duty of loyalty to one's employer could come into conflict with other duties?
The COVID pandemic has created a crisis for many restaurateurs. The author of one of this week's readings has a suggestion that he thinks could help restaurants survive the crisis. Read the article...
Evidence is used to make a decision whenever the decision follows directly from the evidence (Tingling & Brydon, 2010). This is where so many people get it wrong or going by their personal beliefs or...
Pick 2 countries, find the price of a Big Mac in each country (if you want to pick another good/service, go ahead), express the price in the local currency, then with the help of exchange rate,...
Your task is to educate the public about the role of the Fed in the economy. Role: You are an economic issues reporter for PBS. Audience: Television audience of The Newshour on PBS Situation: Your...
Trade Queens Limited is a highly successful FMCG in Zambia. Salient points from the Year-end report indicate the following: Operating profit for the 2022 financial year is up 60% year on year,...
Refer to Theorem 7.2 and let f(x) = e x2 . a. Find a Trapezoid Rule approximation to using n = 50 subintervals. b. Calculate f"(x). c. Explain why |f"(x)| < 18 on [0, 1], given that e < 3. d. Use...
1. What is the semi-annually compounded interest rate if $200 accumulates to $318.77 in eight years? Answer in percentage with two decimal places. 2. What is the quarterly compounded interest rate if...
Identify several causes of a favorable material price variance.
When might an unfavorable variance be a good outcome?
The variable overhead efficiency variance is caused by the difference between which of the following? A. Actual and budgeted units B. Actual and standard allocation base C. Actual and standard...
Glencove Company makes one model of radar gun used by law enforcement officers. All direct materials are added at the beginning of the manufacturing process. Information for the month of September...
Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security, Medicare, and Federal Income Tax withholding (FIT) may be incorrect. Larren is...
The major justification for adding Step 0 to the U.S. GAAP impairment test for goodwill and indefinite lived intangibles is that it: A. Saves money spent estimating fair values B. Results in more...

What type of account is prepaid insurance? A. Stockholders Equity B. Expense C. Liability D. Asset

Question:

Step by Step Answer:

Therefore prepaid insura...View the full answer

Principles Of Accounting Volume 1 Financial Accounting

Students also viewed these Business questions