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Is prepaid insurance a current asset?

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Is a prepaid expense an operating asset?

    Yes. the are counted as a non-financial asset.A prepaid expense is a considered an asset because it entitles the company to receive a benefit in the future. They a

Is a prepaid asset considered an intangible asset?

  No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it i

Is a prepaid pension asset an intangible asset?

Intangible assets are assets that are not physical in nature. In  today's marketplace, they include company's brand name, prepaid  pension, goodwill, and company patents, am

Are prepaid expense a current asset?

If prepaid expanses represents current year expenses then it is current assets in fact, prepaid expenses are current assets. why? this is because you had paid in advance for

Why prepaid expense is an asset?

Prepaid expenses are an asset because you (as the company) is owed  something. When you are owed something by another then you list it  as an asset until it's paid.  

Is Prepaid insurance is an asset account?

Prepaid insurance is that amount which is paid in advance forfuture insurance so until actual insurance facility is availed bycompany it is an asset of company and if it is fo

Why are prepaid expenses recorded as an asset?

This has to do with the matching principle of accounting. Example: A company has a December 31 year-end, but its rental agreement on a building stipulates that a full year of

Is insurance an asset?

Insurance is there in the hope that you will never need it! For  instance, having your home fully insured would be an asset if your  house suffered a fire and was totally gu