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Which of the following statements is false? Prepaid insurance is a deferred expense. Prepaid insurance represents a future economic benefit. Prepaid insurance indicates that a

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Which of the following statements is false? Prepaid insurance is a deferred expense. Prepaid insurance represents a future economic benefit. Prepaid insurance indicates that a company has already paid cash for insurance coverage that company for some future time period. Prepaid insurance is shown on the income statement

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