Which of the following statements is false? Multiple Choice Prepaid insurance is a deferred expense. Prepaid insurance represents a future economic benefit. Prepaid insurance is shown on the income statement. Prepaid insurance indicates that a company has already paid cash for insurance coverage that protects the company for some future time period.
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Home » Business » Which of the following statements is false? Multiple Choice Prepaid insurance is a deferred expense. Prepaid insurance represents a future economic benefit. Prepaid insurance is shown on the income statement.