Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense. Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.
Seniority is being older or more experienced than someone else. An example of the seniority rule would be a 4 year senator being appointed to a committee over a newly elected senator.
Entrepreneurs work by themselves and bureau is working with an organization
