Accrual means the recognition of an expense or revenue that has arisen but has not yet been recorded.
举一反三
- 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.
- An error of commission is one where: A: A transaction has not been recorded. B: One side of a transaction has been recorded in the wrong class of account, such as non-current assets posted to inventory. C: An error has been made in posting a transaction. D: The digits in a number are recorded the wrong way round.
- 中国大学MOOC: Since the revenue recognition principle requires that revenues be recorded when earned, there are no unearned revenues in accrual accounting.
- Since the revenue recognition principle requires that revenues be recorded when earned, there are no unearned revenues in accrual accounting. A: 正确 B: 错误
- 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