Which of the Following Is an Example of an Accrued

question 106

Multiple Choice

Which of the following is an example of an accrued expense?

• A) salary owed but not yet paid
• B) fees received but not yet earned
• C) supplies on hand
• D) a two-year premium paid on a fire insurance policy

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Definitions:

Institutional Markets

Markets composed of customers like schools, hospitals, and governments that acquire goods and services for use in delivering their own services.

Churches

Churches are places of worship for followers of Christianity, also serving as community centers for various religious and social activities.

Buying Center

The collective of individuals in an organization responsible for making procurement decisions, each with specific roles and responsibilities.

Purchase Decision

The process of evaluating and deciding which product or service to buy based on various factors.