Accountancy, asked by rathnapraksh0, 6 months ago

Revenue expenses are recorded in assets side of balance sheet. State true or false

Answers

Answered by MysticalFuzZie

24

Answer:

TRUE...

Explanation:

True. Prepaid expenses are the expenses that have been paid in advance before they are even due for payment. An obligation that is met in advance is an asset for the company, Hence, any advance payment will appear on the assets side of the balance sheet.

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Answered by Anonymous

3

Answer:

True

Explanation:

True. Prepaid expenses are the expenses that have been paid in advance before they are even due for payment. An obligation that is met in advance is an asset for the company, Hence, any advance payment will appear on the assets side of the balance sheet.

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