Postage stamps on hand are considered as A. Bank B. Prepaid expenses C. Accounts receivable D. Creditor
Question
Solution 1
The correct answer is B. Prepaid expenses. Here's why:
Postage stamps on hand are considered a prepaid expense. This is because when you purchase postage stamps, you are essentially paying upfront for a service (mail delivery) that will be used in the future.
In accounting, prepaid expenses are Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study proble
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