Examlex
Match the term with its definition.
-CREB C
Prepaid Expenses
Costs for goods or services that are paid for in advance of being used or consumed, recognized as assets on a balance sheet.
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.
Accounts Receivable
Outstanding payments due to a company from its clients for delivered goods or services awaiting compensation.
Direct Method
A cost allocation method that assigns service department costs directly to production departments without intermediate steps.
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