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Question #72834

The adjustment to be made for prepaid expenses is____________?

Options:

A) Add prepaid expenses to respective expenses and show it as an asset

B) Deduct prepaid expenses from respective expenses and show it as an asset

C) Add prepaid expenses to respective expenses and show it as a liability

D) Deduct prepaid expenses from respective expenses and show it as a liability

Answer: The adjustment to be made for prepaid expenses is Deduct prepaid expenses from respective expenses and show it as an asset.

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