The correct answer among the listed choices is letter a. Prepaid expenses normally falls under the category of current assets since these are prepayments that will be generally used up within a year.ASSETS
In accounting, assets are any resources with value owned by the business, company, entity or person. These are legally owned by the business or entity. Assets have two categories, these are:Current AssetsNon-current Assets1. Current Assets
-these are assets that can be readily convertible to cash in a normal operating cycle of a business. Normal operating cycle is within 1 year.Some Examples of Current AssetsCash and cash equivalentsAccounts ExpensesMarketable Securities/ Short-term Investments2. Non-current Assets
-these are long-term assets or long-term investments that have a longer useful life that is usually more than 1 year. These are not easily convertible to cash.Some Examples of Non-Current AssetsLandProperty, Plant and EquipmentTrademarksLong-term InvestmentsGoodwillOther Assets
All fixed assets and intangible assets fall under the category of non-current assets.
Further related topics about assets and liabilities
What is the opposite of assets
For related topics about fundamental accounting equation
knife, grater, spoon, fork, plate, mug, table, chair, glass, ref, gasul, light, flour, stove, switch, hollow blocks, thermos, etc.
Yes, Because criminal produces criminals. They should be vanished in our country in order to keep the country's safety.