5.All of the following are examples of prepaid expenses except:

a.prepaid rent.

b.prepaid insurance.

c.supplies.

d.unearned revenues.

6.Depreciation is:

a.the wearing away of an asset.

b.the process of an asset becoming obsolete.

c.a valuation process.

d.The process of allocating the cost of an asset to expense over its useful life.

7.Accumulated depreciation is a:

a.contra asset account.

b.contra revenue account.

c.unearned revenue account.

d.expense account.