The advance cash payments of future expenses are called:
A)accrued revenues.
B)prepaid expenses.
C)unearned revenues.
D)accrued expenses.

Question

Quizplus · Accepted Answer

Prepaid expenses are advance cash payments of future expenses. Accrued revenues are revenues that have been earned but have not yet been received. Unearned revenues are cash received in advance for goods or services that have not yet been provided. Accrued expenses are expenses that have been incurred but have not yet been paid for.

The Advance Cash Payments of Future Expenses Are Called