Home » Accounts (Principles of Accounts) » Prepayment is treated in the balance sheet of firm as aPrepayment is treated in the balance sheet of firm as a Prepayment is treated in the balance sheet of firm as a A. fixed asset B. long-term liability C. current asset D. current liability Correct Answer: Option C Explanation Related Posts Which of the following is a credit item on an income and expenditure account? Use the information below to answer this question. Buhari and Osinbajo are in partnership with… Keeping records under single entry system has the advantage of Which of the following is apportioned in proportion of the purchases of each department? Which of the following is found in a Sales Ledger Account? Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total…
