Multiple Choice
A prepayment consumed during a period is:
A) an item that is an expense of a given period but not necessarily a cash payment for that period.
B) an item that may be a cash payment for that period and also an expense for that period.
C) an item that that may be expensed in the current period.
D) any of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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