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Please provide correct answers Prepaid Expenses Terms and Definitions The accrual basis of accounting aligns revenues and expenses in their proper period. Identify the definition

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Prepaid Expenses Terms and Definitions The accrual basis of accounting aligns revenues and expenses in their proper period. Identify the definition associated with each accounting concept that supports the accrual basis of accounting. Accrual accounting records revenues when they are earned, not necessarily when each if received. Likewise, expenses are recorded when they are incurred, not necessarily when they are paid

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