Deferral adjustments are needed when a company has earned revenue or incurred an expense in the current period but has not yet recorded it because the related cash will not be received or paid until a later period.

Question

Quizplus · Accepted Answer

The Answer of Deferral adjustments are needed when a company has earned revenue or incurred an expense in the current period but has not yet recorded it because the related cash will not be received or paid until a later period.

Deferral Adjustments Are Needed When a Company Has Earned Revenue