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LECTURE BY SRCC GRADUATE 🎓 II SANYAM BHAYANA II VIDYAM II BEST ACCOUNTS TEACHER 📚

Class 11 Accountancy 📒
Chapter: Basic Accounting Terms 🧾
Topic: Prepaid Expense vs Outstanding Expense ⏳💵
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👉 Prepaid Expense refers to the amount paid in advance for goods or services which are to be received in the future.
🔸 It is considered an asset as the benefit is yet to be received.
🔹 Example: Rent paid for the next year.

👉 Outstanding Expense refers to those expenses which are due but have not yet been paid.
🔸 It is treated as a liability in the books.
🔹 Example: Salary payable at the end of the month.

📌 Important:
Prepaid Expense = Asset 📥
Outstanding Expense = Liability 📤
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🎯 This video explains the simplest and best meaning of Prepaid and Outstanding Expenses with relatable examples for Class 11 commerce students 🎓✨.

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