Asked by joseph onuorah on Jul 17, 2024
Verified
Services provided that have not been recorded.
A)Prepaid expense
B)Accrued expense
C)Unearned revenue
D)Accrued revenue
E)None of these
Accrued Revenue
Represents the income that has been earned but not yet billed or received by the company.
Prepaid Expense
Payments made in advance for goods or services to be received in the future, recorded as assets on the balance sheet.
Services Provided
The activities or functions performed by a business or organization for the benefit of its customers, which do not result in the ownership of a physical product.
- Match business transactions with their corresponding account types.
Verified Answer
LM
Lelethu MgusheloJul 20, 2024
Final Answer :
d
Explanation :
Services provided that have not been recorded are considered accrued revenue because the company has earned the revenue by providing the services, but it has not yet been recorded in the financial statements.
Learning Objectives
- Match business transactions with their corresponding account types.