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What is the following items are not included in liabilities? a) long-term loans b) Revenue received in advance. c) Prepaid expenses.

Accounting IAS Budgeting IFRS Finance
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Question added by Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial
Date Posted: 2014/05/01
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Khatim Abbas Seed
by Khatim Abbas Seed , BUSINESS CONSULTANT , Google

Pre-paid expenses, as they don't involve immediate or delayed cost to be labelled a "liability" & since paid without involving core cost (compared to Revenue Paid in Advance). They rather belong to the Assets column.

أحمد شناوي محمود
by أحمد شناوي محمود , محاسب , شركة مطاحن مصر الوسطى

Prepaid expenses

Hassan Abbas
by Hassan Abbas , Senior Accountant , AL Badia Transportation LLC.

OFCOURSE THE OPTION C) PREPAID EXPENSES

Muhammad Afaq
by Muhammad Afaq , SENIOR FINANCIAL ACCOUNTANT , United Eddy Company (United Yousef M. Naghi Group)

OPTION C, PREPAID EXPENSES, BECAUSE THESE EXPENSES WILL BE OCCURED IN FUTURE.

MALIIK SOHAIL ABBAS
by MALIIK SOHAIL ABBAS , ACCOUNTS MANAGER , AL RAWDAH GREEN SWEET WATER

OPTION C IS THE CORRECT ANSWER

Muhammad Akram Shahzad Mughal
by Muhammad Akram Shahzad Mughal , Assist. Manager Inventory & Warehouse , KahrPlast Co.

C

Moses Ajayi Murorun
by Moses Ajayi Murorun , Production Executives , Various Organizations

C,  prepaid expenses are classified as current assets

Ali Hammad Naeem
by Ali Hammad Naeem , Chief Executive Officer , Concern Worldwide Media Clicks (Pvt.) Limited Chattha Group of Travels

c) Prepaid expenses. 

agreed with all

umer zubair
by umer zubair , international sales executive , digital globe service

PREPAID EXPENSES (c)

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Answer is C-Prepaid Expenses

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