Ms
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Ms. Magan Dah makes an advance payment for rent for the upcoming 6
months. In her books, this payment will most likely be classified as
a(n):
a.) Asset
b.) Expense.
c.) Liability.
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Option A is correct
Step-by-step explanation
Advance payments are recorded as assets on a company's balance sheet. As these assets are used, they are expended and recorded on the income statement for the period in which they are incurred.
