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False. it is not treated as an expense.
False. prepaid expenses is an expenses paid in advance but not yet incurred. The accounting treatment is to recognise it as asset in the period in which it is paid in line with accrual concept, meanwhile, it is recognised as expenses when the benefit is enjoyed.
False, it is because prepaid expenses is a type of asset in company and it should be come in balance sheet.
False, Because prepaid expenses are part of balnace sheet and these are recorded in balance sheet not in income statement...
False, because the prepaid expense it is an assets for the company it is give the benefit service for the coming accounting period
False , Prepaid expenses should be classified as Balance sheet item until the the perpose which we have paid and completed and once we complete the actiuvity which we have paid will be allocationg to P&L.
It is the part of the balance sheet so, it must be treated as assets in balance sheet rather than expenses.
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