Money that a business has been paid in advance for a service that will be provided later is called _____.
A: accrued revenue
B: accrued expense
C: unearned revenue
D: prepaid expense
A: accrued revenue
B: accrued expense
C: unearned revenue
D: prepaid expense
举一反三
- 中国大学MOOC: Money that a business has been paid in advance for a service that will be provided later is called _____.
- Accrued expense is most likely recorded by a company if cash is paid:（） A: before expense has been incurred. B: at the same time expense has been incurred. C: after expense has been incurred.
- Unearned revenue is a (n) account. ( ) A: revenue B: expense C: liability D: asset
- Accrual means the recognition of an expense or revenue that has arisen but has not yet been recorded.
- What type of account is Unearned Revenue (asset, liability, stockholders’ equity, revenue, or expense) and what is its normal balance, respectively?