In an operating lease, rent collected in advance by the lessor should be treated O prepaid expense unearned income O accrued liability O accrued asset

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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In an operating lease, rent collected in advance by the lessor should be treated as
O prepaid expense
O unearned income
O accrued liability
O accrued asset
Transcribed Image Text:In an operating lease, rent collected in advance by the lessor should be treated as O prepaid expense O unearned income O accrued liability O accrued asset
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