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Question

What is the posting reference that will be found in the prepaid insurance account? a. 11 b. 3 c. 15 d. 13

Answer

The posting reference for option c) 15 is located in the prepaid insurance account. Prepaid expenses are expenditures that have been paid for but have not yet been recognized as an expense by a business. They are considered assets because they will provide economic benefits in the future and are recorded as such until the benefits are realized. At that point, the expenses are matched with the appropriate period and expensed. Prepaid expenses are essentially future costs that are paid in advance and treated as assets until they are needed. To learn more about this concept, check out brainly.com/question/13848560. #SPJ4