Examlex
Match each description with the item below.
-Denis Kearney
Prepaid Expenses
Expenses paid in advance and recorded as assets until they are actually used or consumed.
Unearned Revenues
Represents income received by a company for goods or services that are yet to be delivered or performed.
Accrued Revenues
Income earned during an accounting period but not yet received or recorded at the statement date, representing future cash receipts.
Annual Depreciation
The amount of depreciation expense allocated for a fixed asset in one year, based on the asset's useful life and cost.
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