Terminology.In the space provided at the right, write the word or phrase that is defined or indicated.
1. Revenue and expense accounts. 1."
2. An optional step in the accounting cycle. 2."
3. A revenue collected, but not recognized. 3.
4. A revenue recognized, but not collected. 4.
5. Asset, liability, and equity accounts. 5.
6. An expense paid, but not incurred. 6.
7. An expense incurred, but not paid. 7.

Question

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The Answer of Terminology.In the space provided at the right, write the word or phrase that is defined or indicated.
1. Revenue and expense accounts. 1."
2. An optional step in the accounting cycle. 2."
3. A revenue collected, but not recognized. 3.
4. A revenue recognized, but not collected. 4.
5. Asset, liability, and equity accounts. 5.
6. An expense paid, but not incurred. 6.
7. An expense incurred, but not paid. 7.