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5. Prepaid expenses A are an asset. B. result from paying for an expense such as rent in advance of using it C. will result

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5. Prepaid expenses A are an asset. B. result from paying for an expense such as rent in advance of using it C. will result in an expense being increased sometime in the future. D all of the above are correct 6. Which of the following would be considered a financing activity that decreases cash? A The company pays a long-term loan B. The company sells common stock C. The company purchases a building D. The company pays its monthly utility bill

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