What are pre-payments - SS1 Accounting Meaning of Pre- Payments And Accruals & Distinctions Between Pre-Payment And Accruals Question
What are pre-payments?
A
Payments made by a business in advance for goods or services that will be received or consumed in the future
B
Payments made by a business after goods or services have been received or consumed
C
Payments made by a business for goods or services that are not required
D
Payments made by a business for goods or services that have not been received or consumed
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Correct Option: A
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