MCQOPTIONS
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MCQOPTIONS
| 1. |
The adjustment to be made for prepaid expenses is |
| A. | Add prepaid expenses to respective expenses and show it as an asset |
| B. | Deduct prepaid expenses from respective expenses and show it as an asset |
| C. | Add prepaid expenses to respective expenses and show it as a liability |
| D. | Deduct prepaid expenses from respective expenses and show it as a liability |
| Answer» C. Add prepaid expenses to respective expenses and show it as a liability | |