Match the statements below with the appropriate terms by entering the appropriat
ID: 2370070 • Letter: M
Question
Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided.
Terms:
A. Prepaid Expenses
B. Unearned Revenues
C. Accrued Revenues
D. Accrued Expenses
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Statements:
1. A revenue not yet earned; collected in advance___
2. Office supplies on hand that will be used in the next period___
3. Subscriptions revenue collected; already earned___
4. Rent not yet collected; already earned___
5. An expense incurred; not yet paid or recorded___
6. A revenue earned; not yet collected or recorded___
7. An expense not yet incurred; paid in advance___
8. Interest expenses incurred; not yet paid___
Explanation / Answer
1- A
2-A
3-c
4-c
5-D
6-c
7-D
8-D