What type of account is prepaid insurance on the balance sheet? 2022 Certain expenses, such as taxes and insurance, are paid in one lump sum during a specific accounting period. Earnings on these payments extend over a single accounting period, so i
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What is prepaid insurance? The term prepaid insurance refers to payments made by individuals and businesses to their insurers in advance for insurance coverage or services. Full annual premiums are usually paid upfront, but in some cases can cover m
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