prepaid insurance is
Answers
Answered by
11
Answer:
Prepaid insurance is payments made to insurers in advance for insurance coverage. Insurance companies carry prepaid insurance as current assets on their balance sheets because it's not consumed. When the insurance coverage comes into effect, it goes from an asset and is charged to the expense side.
Answered by
3
Explanation:
Prepaid insurance is payments made to insurers in advance for insurance coverage. Insurance companies carry prepaid insurance as current assets on their balance sheets because it's not consumed. When the insurance coverage comes into effect, it goes from an asset and is charged to the expense side.
Similar questions
Math,
1 month ago
Math,
1 month ago
India Languages,
1 month ago
Math,
8 months ago
Science,
8 months ago