The "prepaid insurance" account has a $20,000 balance. Which of the following is NOT true? The money was paid in the past but will provide benefit in the future The account is an asset The cost is expected to help generate future revenue The account appears on the company's income statement The "prepaid insurance" account has a $20,000 balance. Which of the following is NOT true? The money was paid in the past but will provide benefit in the future The account is an asset The cost is expected to help generate future revenue The account appears on the company's income statement