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Which of the following statements regarding the working capital accounts is true? Group of answer choices A prepaid expense asset arises when cash is paid
Which of the following statements regarding the working capital accounts is true?
Group of answer choices
A prepaid expense asset arises when cash is paid after the related expense is recognized.
An increase in a prepaid expense asset signifies an increase in the amount of cash provided by operating activities.
An unearned revenue liability arises when cash is received after the related income is recognized.
An increase in an unearned revenue liability signifies an increase in the amount of cash provided by operating activities
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