Which of the following is normally the result of cash being received or paid before the revenue is earned or the expense is incurred?
A) A deferred expense
B) An accrued expense
C) A contra asset
D) An intangible asset

Question

Quizplus · Accepted Answer

A deferred expense occurs when cash is paid before the expense is incurred, reflecting a prepayment for goods or services to be received in the future.

Which of the Following Is Normally the Result of Cash