Is prepaid expenses an asset or liability? 787 views 0 Morrow 0 Comments Is the prepaid expenses balance an asset or a liability in the statement of the financial position for a company? Is it a credit or a debit? 1 Answer ActiveVotedNewestOldest 0 Hagerman Posted 0 Comments Prepaid expenses are expenses that have been paid but relate to a different period. They are assets since they will be consumed in a later period. Register or Login Search for:
