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Is prepaid insurance a current asset?

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Is prepaid rent a long term asset?

A Long-Term Asset is one in which the benefits of that asset extend beyond the course of a year. The benefits of prepaid rent are typically more immediate, and therefore Prepa

What is current assets and non-current assets?

Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into

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

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

When is an asset classified as a current asset?

An asset is something that is considered to be a future economic benefit of the business a current asset is the same but that future economic benefit is expected to occur wi

What type of asset account is prepaid rent?

Prepaid Rent is a Current-Asset account. Since it deals with "prepaid" it will expire on a regular basis and is not a "fixed" asset. Each month (or whatever terms the rent may

What is current assets and non current assets?

current is all visible and non current assets are not visible like preleminary exp, good will etc Current Assets Current Assets include Cash and Assets that will be converte

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