Select the one term that best fits each definition
-Cash received for goods or services which have not yet been provided.
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 revenue refers to money received by a company for goods or services which have not yet been delivered or performed. It is recognized as a liability on the balance sheet until the goods or services are provided to the customer.

Select the One Term That Best Fits Each Definition