received money that should be reported as revenue in a later accounting period Example of an Expense Deferral A deferral of an expense or an expense deferral involves a payment that was paid in advance of the accounting period(s) in which it will become an expense. An example is a payment...
An analyst does research about the accrued revenue. Accrued revenue is properly classified on a financial statement as which of the following() A. Assets. B. Liabilities. C. Equity. 相关知识点: 试题来源: 解析 A 应计收入(accrued revenue)是指企业已经提供了产品或服务,但现金还没到账的已确认...
2 . An example of an expense classification by function is: A . tax expense. B . interest expense. C . cost of goods sold. 3 . Denali Limited, a manufacturing company, had the following income statement information: Revenue $4,000, 000 Cost of goods sold $3.000,000 Other operating ...
Which of the following is an example of an accrued liability? a. Wages have been earned by employees, but have not been paid at the end of the period. b. Equipment that will benefit several periods has been purchased. c. An insurance policy that expires i ...
The company would record the cost of this paid vacation in the current period during which the sale was recorded. This would require the company to record an expense and a corresponding accrued vacation liability. This is an example of an “income decreasing” accrual. Neither the income ...
A is corrent because an accrued expense is an expense incurred but not paid. An example would be accrued payroll expense, which is incurred prior to year-end but not paid until the next period. Accruals (expenses and revenues) are transactions wherein expenses are incurred or the revenue earn...
Which of the following is an example of a contra-revenue account? (Select one or more) a) Accounts Receivable. b) Allowance for Doubtful Accounts. c) Sales Discounts. d) Interest Revenue. e) Sales Returns and Allowances. Under the dir...
Why is an accrual-basis financial statements provide more useful information than cash-basis statements? Provide an example of a revenue or expense transaction under each methodology. Explain the importance of a bank reconciliation statement. Give some examples ...
8. An example of a capital expenditure is: a. a payment for the current year's insurance coverage against fire loss on a building. b. the payment of an employee's wages. c. a payment for an office typewriter. 精品文档 精品文档 d. none of these. 9. X-Ray Company sold for $6,000...
What Qualifies as an Accrued Expense? Some of the most common examples of accrued expenses include: Accrued Interestrefers to the amount ofinterest expensethat has been added to a loan, bond, or other financial obligation that hasn’t been paid yet. ...