Day: 10 September 2021

a blog featured image with a topic title about what is prepayments

What Is Prepayment?

Liabilities are legal obligations that entities must uphold. There are many kinds of financial commitments in business, and one of those is called the long-term liability. Paying these long-term liabilities in advance is what you refer to as prepayment. What is prepayment? However, before we discuss what prepayments are, it is important to understand what long-term liabilities …

What Is Prepayment? Read More »