Prepaid expenses and deferred charges, Accounting Basics

Q. Prepaid expenses and deferred charges?

Prepaid expenses, deferred charges -- assets already paid for, which are being used up or willexpire. Insurance paid for in advance is a general illustration. Insurance protection is anasset. It's paid for in advance, it lasts for a period of time and expires on a fixed date

Posted Date: 8/16/2013 6:40:00 AM | Location : United States

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