Accrued revenues refer to revenue for services that have been performed but have not yet been received in cash or recorded. This means that the company has provided the service, but has not yet received payment for it. Options A and D describe other types of revenue recognition situations, while option B does not accurately describe accrued revenues.

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Accrued Revenues Are

Question 19

Multiple Choice

Accrued revenues are

A) recorded when cash is received before services are performed.
B) revenue for services performed and recorded as liabilities before they are received.
C) revenue for services performed but not yet received in cash or recorded.
D) revenue for services performed and already received in cash and recorded.

Correct Answer: