Question

prepaid expenses is an intangible assets​

Answer 1

Answer:

All intangible assets are nonphysical, but not all nonphysical assets are intangibles. For example, accounts receivable and prepaid expenses are nonphysical, yet classified as current assets rather than intangible assets. ... Amortization is the systematic write-off of the cost of an intangible asset to expense.

Answer 2

Answer:

All intangible assets are nonphysical, but not all nonphysical assets are intangibles. For example, accounts receivable and prepaid expenses are nonphysical, yet classified as current assets rather than intangible assets. ... Amortization is the systematic write-off of the cost of an intangible asset to expense.

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