PREPAID EXPENSES are amounts that are paid in advance to a vender or creditor for goods and services. Typically, insurance premiums are paid in advance of the coverage contained in the policy. Prepaid Expenses is a Current Asset for your business. This is because you have paid for something and someone owes you the service or the goods for which you prepaid.
ACCRUED REVENUE is the accumulated revenue as they have been recognized over a given period.
CRUT is an acronym for Charitable Remainder Unitrust.
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