Prepaid Insurance is classified as a : a) Asset b) Liability c) Owner's equity account d) Revenue e) Expense?

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Posted by:
Muhammad Mujtaba Shafique
13-February-2016

Accounting

Question added by Said Shaban , Accountant , Tri State Materials Testing
Date Posted: 2015/07/26

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14 Answers

by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

A) Assets : It is prepaid .............

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by Zehab Osman , Accountant , Aldar Consultancy Co.

A--------------------------------------------------------------

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by Md. Omar Faruq , Manager-Accounts & Finance , The Rani Re-Rolling Mills Limited.

Prepaid insurance is classified as current assets in the Balance Sheet, so correct answer is option-A

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by Wasim khan wazir , Finance Specialist , Mott Macdonald

Asset...........................................,,,,,,,,,,,,.

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by tehmasip butt , Account Manager Operations , MTBC

classified as current asset in balance sheet

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by Deleted user

Option A)asset is the right answer.....

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by Deleted user

Prepaid insurance is classified as

A)Asset

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by Michael Lagunday , Accountant , Dubai Camel Racing Club

Prepaid Insurance is the remaining insurance not allocated for the period. Therefore, prepaid insurance is an asset.

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by Syed Muntazir , Accountant , AL BARAKAH DATES FACTORY LLC

An asset....correct answer is option a

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by Phool Chandra Kesharwani , Finance Manager , United Textiles Fze

Prepaid insurance are recorded under category of current assets in balance sheet .

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by MASOOD BIN ABOOD Bin Saif , Senior Accountant , AGECO

Asset: Expense not yet realised.

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