Deferred Revenue Is Revenue That Is

question 24

Multiple Choice

Deferred revenue is revenue that is

• A) earned and the cash has been received
• B) earned but the cash has not been received
• C) not earned and the cash has not been received
• D) not earned but the cash has been received

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Definitions:

Optional Step

A step in a process or procedure that is not required to be completed but may be performed based on individual preference or circumstances.

Worksheet

A worksheet is an informal document used by accountants for organizing and adjusting financial information before preparing financial statements.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.

Annual Accounting Period

A 12-month period over which a company reports its financial performance, often aligned with the calendar year or fiscal year.