If a business pays rent in advance for 12 months, it will be treated as:

Question

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Long term liability of business

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Prepaid expenses of business

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Long term liability of business

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Fixed assets of business

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Current liability of business

1.	If a business pays rent in advance for 12 months, it will be treated as:
A.	Prepaid expenses of business
B.	Long term liability of business
C.	Fixed assets of business
D.	Current liability of business
Answer» B. Long term liability of business

Discussion