I need typed answer with explanation otherwise I will report to your answer and don't use AI BOT. Explain why reaming options are incorrect I will thumb up. You can't explain why reaming options are incorrect I will report to your answer.

Which of the following statements is correct about prepaid accounts O Prepaid accounts are also called prepaid liabilities and are classified as liabilities. O Prepaid accounts are current expense accounts and are reported on the income statement. O Prepaid accounts are also called prepaid expenses and are considered assets. O Prepaid accounts are another name for accounts receivable and are reported as an asset