amounts that are paid in advance to a vender or creditor for goods and services. Typically, insurance premiums are paid in advance of the coverage contained in the policy.' PREPAID EXPENSES' is a Current Asset for your business. This is because you have paid for something and someone owes you the service or the goods for which you prepaid.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). prepaid expenses. Retrieved October 1, 2026, from http://smartdefine.org/prepaid_expenses/definitions/1160964 |
| Chicago | Barry Goldsmith. 2010. "prepaid expenses" http://smartdefine.org/prepaid_expenses/definitions/1160964 (accessed October 1, 2026). |
| Harvard | Barry Goldsmith 2010, prepaid expenses, Smart Define, viewed 1 October, 2026, <http://smartdefine.org/prepaid_expenses/definitions/1160964>. |
| MLA | Barry Goldsmith. "prepaid expenses" 21 October 2010. Web. 1 October 2026. <http://smartdefine.org/prepaid_expenses/definitions/1160964> |