Q126
Postage stamps on hand are considered as
A.
Bank balance
B.
Prepaid expenses
AnswerC.
Accounts receivable
D.
Creditors
Answer: Option B
Solution
Answer: Option B
Solution:
Postage stamps on hand are considered as Prepaid expenses. Prepaids are any expense the business pays for in advance, such as rent, insurance, office supplies, postage, travel expense, or advances to employees.