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WAEC Book Keeping 2024 Objective — Question 21

Question 21 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.

21. Prepayments are shown in the balance sheet as A.

A. current liability.
B. long-term liability.
C. fixed asset.
D. current asset.Correct

Explanation

Prepayments are expenses paid but not yet used. It is an asset to the company.

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