Asked by Helmut Andres Florencia Roldan on Jun 19, 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 choices
Accrued Revenue
Revenue earned in one accounting period but not received until a later period, recognized in the financial statements when earned, not when received.
Services Provided
The act or process of delivering professional, technical, or operational assistance to customers or clients.
Recorded
The act of entering financial transactions into the accounting records of a company.
- Recognize and allocate different types of accounts into appropriate categories, reflecting business exchanges.
Verified Answer
BN
Breanna NicolleJun 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
- Recognize and allocate different types of accounts into appropriate categories, reflecting business exchanges.