Solved

Match the Statements Below with the Appropriate Terms by Entering

Question 310

Matching

Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided.
TERMS:

Premises:
A revenue not yet recognized; collected in advance.
A revenue recognized; not yet collected or recorded.
An expense not yet incurred; paid in advance.
An expense incurred; not yet paid or recorded.
Responses:
Unearned Revenues
Accrued Revenues
Preaid Expenses
Accrued Expenses

Correct Answer:

A revenue not yet recognized; collected in advance.
A revenue recognized; not yet collected or recorded.
An expense not yet incurred; paid in advance.
An expense incurred; not yet paid or recorded.
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