Complete the sentence: Expenses which are paid before due date are called as _____.
Q.1 (D) (5) Complete the sentence: Expenses which are paid before due date are called as _____.
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Answer: prepaid expenses
Prepaid (unexpired) expenses are paid in advance for a future period; they are deducted from the expense and shown on the assets side of the balance sheet.
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· 28 Oct 2026
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