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Which of the following is an "Alien" Element, in "Elements of the Financial Statements"?

1. Assets

2. Liabilities

3. Equity

4. Prepaid

5. Expenses

Accounting Financial Reporting Financial Accounting Accounting and Finance
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Question added by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date Posted: 2015/08/09
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4. Prepaid.................. in the financial statements elements there is no heading termed as prepaid elements. This can be part of asset specifically under current asset if an entity makes such advance payment

Imdad Hussain Rajput
by Imdad Hussain Rajput , Assistant Sales Manager , Forego

Prepaid is Alien element.................................

Sabir Hussain
by Sabir Hussain , Accounting Manager , Etihad Aviation Tours & Travels

The answers should be prepaid

 

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