Accounting Dictionary - Letter R

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Rent expense
is a cost incurred for the use (lease) of property such as land, building, and equipment. Rent expense is an operating expense. When an entity pays for rent in advance, the rent is said to be prepaid. Prepaid rent is an asset that decreases as the lease period progresses.
Go Back
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course:
Free Study Notes
Download free accounting study notes by signing up for our free newsletter (example):
First Name:
E-mail:
We never share or sell your e-mail to third parties.