Which of the following statements about accruals and prepayments are correct? 1 Accrued revenue at the end of an accounting period is shown as a current asset. 2 Accrued revenue at the end of an accounting period is shown as a current liability. 3 Prepaid expenses at the end of an accounting period are shown as a current asset. 4 Prepaid expenses at the end of an accounting period are shown as a current liability.
- A1 and 3
- B1 and 4
- C2 and 3
- D2 and 4