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Which of the following is classified as an asset​ account?A.Notes PayableB.​Owner, WithdrawalsC.Prepaid InsuranceD.Unearned Revenue
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Which of the following is classified as an asset​ account?A.Notes PayableB.​Owner, WithdrawalsC.Prepaid InsuranceD.Unearned Revenue

User Jwlaughton
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Answer:

C.Prepaid Insurance

Step-by-step explanation:

Prepaid Insurance is the insurance amount paid in advance, so that company has a receivable because amount is not due yet. It will charged to expense account with the passage of time. Notes Payable, Unearned Revenue, ​Owner Withdrawals are classified as liabilities and capital contra accounts. So correct option is C. Prepaid Insurance.

User Taapo
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