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1. What type of account is Prepaid Insurance? a. asset b. contra asset c. liability d. stockholder's equity e. contra stockholder's equity f. revenue g. expense 2. What is the normal

1. What type of account is Prepaid Insurance?

a. asset

b. contra asset

c. liability

d. stockholder's equity

e. contra stockholder's equity

f. revenue

g. expense

 

2. What is the normal balance of prepaid insurance? 

a. Debit

b. Credit

 

3. Which financial statement does prepaid insurance appear?

a. Income Statement

b. Statement of Retained Earnings

c. Balance Sheet

 

May 14 2021 View more View Less

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