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What are prepaid expenses? a . Payments made for economic benefits that never expire b . Always debited to an expense account c . Generally,
What are prepaid expenses?
a Payments made for economic benefits that never expire
b Always debited to an expense account
c Generally, all combined into one account called "Miscellaneous Expenses"
d Classified as liabilities on the balance sheet
e Assets created by payments for economic benefits that are not used up until later
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