Question: Prepayments occur when: Multiple Choice a cash flow precedes either expense or revenue recognition. cash payment occurs after the expense is incurred and liability is

Prepayments occur when:
Multiple Choice
a cash flow precedes either expense or revenue recognition.
cash payment occurs after the expense is incurred and liability is recorded.
customers are unable to pay the full amount due when goods are delivered.
sales are delayed pending credit approval.
Prepayments occur when: Multiple Choice a cash flow precedes either expense

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