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A) Assets : It is prepaid .............
A--------------------------------------------------------------
Prepaid insurance is classified as current assets in the Balance Sheet, so correct answer is option-A
Asset...........................................,,,,,,,,,,,,.
classified as current asset in balance sheet
Option A)asset is the right answer.....
Prepaid insurance is classified as
A)Asset
Prepaid Insurance is the remaining insurance not allocated for the period. Therefore, prepaid insurance is an asset.
Prepaid insurance are recorded under category of current assets in balance sheet .