Which one of the following is NOT an example of a prepaid expense?
A) Supplies on hand.
B) Supplies expense.
C) Insurance paid for one year in advance.
D) Rent paid for one year in advance.

Question

Quizplus · Accepted Answer

supplies expense is the amount of supplies used during the period, while supplies on hand is the prepaid expense as this is the amount still available to be sued in the future

Which One of the Following Is NOT an Example of a Prepaid