Asked by
Eskander Kian Ben Aissa
on Oct 28, 2024
Verified
Which of the following accounts does not have a debit balance?
A) Prepaid expenses.
B) Insurance expense.
C) Unearned revenue.
D) Investments.
Prepaid Expenses
Expenses paid in advance for goods or services to be received in the future.
Insurance Expense
The cost associated with purchasing insurance to protect against various risks, recorded as an expense.
Unearned Revenue
Money received by a company for goods or services yet to be provided. It is considered a liability until the service is delivered or the product is provided.
- Recognize the typical balance associated with various account categories, including assets, liabilities, equity, revenue, and expenses.
Verified Answer
TO
Learning Objectives
- Recognize the typical balance associated with various account categories, including assets, liabilities, equity, revenue, and expenses.