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When prepaid rent is recognized as an expense

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Reference no: EM132581407

Question 1: When prepaid rent is recognized as an expense, which of the following is true?

Option a) Cash decreases and equity decreases

Option b) Prepaid rent decrease, rent expense on the balance sheet increases and equity decreases

Option c) Prepaid rent decrease, rent expense on the income statement increases and equity increases

Option d) Prepaid rent decrease, rent expense on the income statement increases and equity decreases

Reference no: EM132581407

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