Which of the following statements is correct about prepaid expenses? Multiple choice question. Prepaid expenses are another name for accounts receivable and are reported as an asset. Prepaid expenses are also called prepaid accounts and are considered assets. Prepaid expenses are also called prepaid liabilities and are classified as liabilities. Prepaid expenses are current expense accounts and are reported on the income statement.

Oliver queen buys 100 shares of stock in green arrow archery corporation, a publicly traded company with which he is not affiliated as a director, officer, or employee. he then sells his 100 shares to john diggle. the sec sues oliver because he didn't register the sale of stock to john. who wins? oliver, because the sale falls into the nonissuer exemption oliver, because the sale falls into the private placement exemption the sec, because the transaction is not exempt from registration the sec, because even exempt transactions must be registered with the sec