Classify the following items as: (1)prepaid expense,(2)unearned revenue,(3)accrued expense,or (4)accrued revenue.

a)fees received but not yet earned
b)fees earned but not yet received
c)paid premium on a one-year insurance policy
d)property tax owed to be paid beginning of next year

Question

Classify the following items as: (1)prepaid expense,(2)unearned revenue,(3)accrued expense,or (4)accrued revenue.
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a)fees received but not yet earned
b)fees earned but not yet received
c)paid premium on a one-year insurance policy
d)property tax owed to be paid beginning of next year

Quizplus · Accepted Answer

The Answer of Classify the following items as: (1)prepaid expense,(2)unearned revenue,(3)accrued expense,or (4)accrued revenue.
​
a)fees received but not yet earned
b)fees earned but not yet received
c)paid premium on a one-year insurance policy
d)property tax owed to be paid beginning of next year

Classify the Following Items As: (1)prepaid Expense,(2)unearned Revenue,(3)accrued Expense,or (4)accrued