Strabismus is the correct name for what condition?

Bank reconciliation statement is a part of_________?

A. Cash book
B. Trial balance
C. Auditors report
D. None of these

A. Add prepaid expenses to respective expenses and show it as an asset
B. Deduct prepaid expenses from respective expenses and show it as an asset
C. Add prepaid expenses to respective expenses and show it as a liability
D. Deduct prepaid expenses from respective expenses and show it as a liability

Prepaid expense is an expense relating to the next accounting period but has been paid
in the current accounting period and hence it is a current asset. The adjustment would be to
deduct it from the respective expense account in the P&L A/c and show it as a current asset in the
Balance Sheet.