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6. Which of the following statements is not true regarding prepaid expenses? a. Prepaid expenses appear in the balance sheet b. Prepaid expenses represent assets

6. Which of the following statements is not true regarding prepaid expenses?

a. Prepaid expenses appear in the balance sheet

b. Prepaid expenses represent assets

c. Prepaid expenses become expenses only as goods or services are used up

d. Prepaid expenses are shown in a special section of the income statement

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