Prepaid advertising is reported as: Select one: O a. A liability in the balance sheet Ob. An expense in the profit and loss statement Oc. Either an expense or an asset O d. An asset in the balance sheet On 2 May 2022, Happy Corp sells goods to Misery and requests payment be made within 30 days. On the statement of financial position for Happy Corp at 2 May 2022 the amount owing from Misery would be reported as: O a. accounts payable. O b. an expense. . accounts receivable. O d. an overdue customer account. Which of the following is not an asset? Select one: O a Cash. O b. Building. Oc Prepaid Rent O d. Unearned Rent Which accounting concept relates to the extent to which information can be omitted, misstated or grouped with other information without misleading the users of that information in their decision-making? Select one: O a. Economic substance Ob. Relevance Oc Materiality O d. Verifiability