Words / P / Business

prepaid

adjective/ˌpriːˈpeɪd/

A2CEFR level
15/100Rarity: common
TechnicalRegister

Paid in advance and carried forward until the related benefit is consumed.

The prepaid insurance was released to the income statement evenly across the twelve months it covered.

Topic: Accounting in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Accounting