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Prepaid Insurance is classified as a : a) Asset b) Liability c) Owner's equity account d) Revenue e) Expense?

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Question ajoutée par Said Shaban , Accountant , Tri State Materials Testing
Date de publication: 2015/07/26
Mohammed Asim Nehal
par Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

A) Assets :  It is prepaid .............

Zehab Osman
par Zehab Osman , Accountant , Aldar Consultancy Co.

A--------------------------------------------------------------

Md. Omar Faruq
par Md. Omar Faruq , Manager-Accounts & Finance , The Rani Re-Rolling Mills Limited.

Prepaid insurance is classified as current assets in the Balance Sheet,  so correct answer is option-A

Wasim khan wazir
par Wasim khan wazir , Finance Specialist , Mott Macdonald

Asset...........................................,,,,,,,,,,,,.

tehmasip butt
par tehmasip butt , Account Manager Operations , MTBC

classified as current asset in balance sheet

Utilisateur supprimé
par Utilisateur supprimé

Option A)asset is the right answer.....

Utilisateur supprimé
par Utilisateur supprimé

Prepaid insurance is classified as

A)Asset

Michael Lagunday
par Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC

Prepaid Insurance is the remaining insurance not allocated for the period. Therefore, prepaid insurance is an asset.

Syed  Muntazir
par Syed Muntazir , Accountant , AL BARAKAH DATES FACTORY LLC

An asset....correct answer is option a

Phool Chandra  Kesharwani
par Phool Chandra Kesharwani , Finance Manager , United Textiles Fze

Prepaid insurance are recorded under category of current assets  in balance sheet .

MASOOD BIN ABOOD Bin Saif
par MASOOD BIN ABOOD Bin Saif , Senior Accountant , AGECO

Asset: Expense not yet realised.

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