At the time a payment is made that represents a prepayment of an expense, a prepaid account such as Prepaid Insurance is debited and the Cash account is credited. This records the prepayment as an asset on the companyâs balance sheet.
English and American cases dealing with the insurance meaning of war have defined it in accordance with the ancient international law definition: war refers to and includes only hostilities carried on by entities that constitute governments at least de facto in character..
The rules of warfare are not suspended, however, or otherwise rendered inapplicable merely because the grounds for fighting a particular war are unlawful. In an illegal war both the aggressor and other belligerents must still comport their behavior with the international customs, practices, and conventions of war. At the same time, some authority suggests that one belligerent may disregard certain rules of war in reprisal for its enemy's disregard of the same rules.