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    Financial Accounting Study Set 1
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    Exam 3: The Income Statement
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    The Prepayment of Rent for the Next Three Months (Not
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The Prepayment of Rent for the Next Three Months (Not

Question 17

Question 17

Multiple Choice

The prepayment of rent for the next three months (not including this month) :


A) reduces total assets.
B) has no effect on total assets.
C) increases expenses.
D) decreases stockholders' equity.

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