Question

Deferred expenses that benefit a relatively short period of time are listed on the balance sheet as current assets. a. True b. False

Answer 1

True

Step-by-step explanation:

The deferred expense is an expense that is not realized in the near future. In this the one account is debited the other account is credited. Like prepaid insurance account is debited and the cash is credited. Both the accounts are current assets

Therefore in the given case, the benefit that arises for a short period of time is listed on the current asset side of the balance sheet

Hence, the given statement is true