Select the one term that best fits each definition
-Payments for goods or services which have not yet been received.
A) accrual
B) accrued interest expense
C) accrued expenses
D) deferral
E) deferred expenses
F) deferred revenue
G) reversing entry

Question

Quizplus · Accepted Answer

Deferred expenses refer to payments made for goods or services that have not yet been received, meaning the expense is recognized after the payment is made.

Select the One Term That Best Fits Each Definition