Prepayments occur when:
a. cash payment (or an obligation to pay cash) occurs before the expense recognition.
b. sales are delayed pending credit approval.
c. customers are unable to pay the full amount due when goods are delivered.
d. cash payment occurs after the expense is incurred and liability is recorded.

a. Cash payment (or an obligation to pay cash) occurs before the expense recognition.

Explanation:

Prepayments are amounts paid to a business before goods or services are received. This means that a prepayment is the payment of an obligation, bill, or expense before its due date, which is therefore,  also before the expense recognition.

The correct answer is alternative a. Cash payment (or an obligation to pay cash) occurs before the expense recognition.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.