Which account is most unlikely to be credited when an expense is recorded? Multiple Choice O...

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Which account is most unlikely to be credited when an expense is recorded? Multiple Choice O O Cash O O Accounts Payable Acco A prepayment of rent for the next three months (not including this month): Multiple Choice decreases stockholders equity. O

business accounting

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Answer 1

Answer #1

1)

There is no connection between accounts receivable and expense.

Accounts receivable is most unlikely to be credited when an expense is recorded.

Accounts receivable

2)

Payment of expense in advance decrease cash on assets side and increase prepaid expenses on assets side. Prepaid expense is a current account.

Has no effect on total assets.

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Answer 2

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