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Financial Statements - 2 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements - 21 Mark
Question
What are prepaid expenses?
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Answer

These are the expenses which have been paid in advance for the next period during the current period itself. In other words, benefit of such payments will be available in the next accounting period.

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